Boot Barn (NYSE:BOOT) Reaches New 12-Month High After Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week high during mid-day trading on Monday after BTIG Research raised their price target on the stock from $100.00 to $127.00. BTIG Research currently has a buy rating on the stock. Boot Barn traded as high as $110.32 and last traded at $109.15, with a volume of 18468 shares traded. The stock had previously closed at $107.79.

Several other equities analysts have also weighed in on the stock. UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and raised their price objective for the company from $75.00 to $108.00 in a research report on Friday, January 5th. TD Cowen raised their price objective on shares of Boot Barn from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Monday. B. Riley cut their price objective on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Williams Trading reaffirmed a “hold” rating on shares of Boot Barn in a research report on Tuesday, January 16th. Finally, Piper Sandler raised their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.11.

Insider Transactions at Boot Barn

In other news, Director Gene Eddie Burt sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total value of $85,030.00. Following the sale, the director now owns 1,542 shares in the company, valued at $131,116.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of Boot Barn stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the sale, the chief executive officer now owns 46,273 shares in the company, valued at $4,274,699.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total transaction of $85,030.00. Following the sale, the director now owns 1,542 shares in the company, valued at approximately $131,116.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,339 shares of company stock worth $2,413,715. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new stake in Boot Barn during the fourth quarter worth $1,167,000. Jump Financial LLC acquired a new stake in shares of Boot Barn in the 3rd quarter valued at $1,688,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Boot Barn by 410.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,300 shares of the company’s stock valued at $1,161,000 after purchasing an additional 11,500 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Boot Barn in the 3rd quarter valued at $8,486,000. Finally, Boston Partners acquired a new stake in shares of Boot Barn in the 3rd quarter valued at $648,000.

Boot Barn Stock Performance

The company’s 50 day moving average price is $94.25 and its 200 day moving average price is $82.23. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 19.83 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.01. The business had revenue of $520.40 million for the quarter, compared to the consensus estimate of $520.34 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. As a group, analysts predict that Boot Barn Holdings, Inc. will post 4.73 EPS for the current year.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.