TD Cowen Raises Boot Barn (NYSE:BOOT) Price Target to $145.00

Boot Barn (NYSE:BOOTGet Free Report) had its price target lifted by investment analysts at TD Cowen from $120.00 to $145.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 12.67% from the company’s previous close.

Several other equities analysts have also commented on the company. Benchmark boosted their price target on Boot Barn from $88.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Craig Hallum boosted their price target on Boot Barn from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Robert W. Baird boosted their price target on Boot Barn from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price target on Boot Barn from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Finally, KeyCorp started coverage on Boot Barn in a research report on Wednesday, February 7th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and an average target price of $117.73.

View Our Latest Stock Report on BOOT

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $128.70 on Wednesday. Boot Barn has a 1 year low of $66.73 and a 1 year high of $131.85. The stock has a market capitalization of $3.91 billion, a P/E ratio of 26.81 and a beta of 2.16. The stock has a 50-day simple moving average of $106.63 and a 200-day simple moving average of $89.33.

Boot Barn (NYSE:BOOTGet Free Report) last issued its earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. The business had revenue of $388.46 million during the quarter, compared to analysts’ expectations of $383.67 million. Analysts predict that Boot Barn will post 4.8 earnings per share for the current year.

Insider Activity

In other news, Director Brenda I. Morris sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the completion of the sale, the director now directly owns 4,546 shares in the company, valued at approximately $500,560.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Michael A. Love sold 5,653 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $113.61, for a total transaction of $642,237.33. Following the completion of the transaction, the insider now directly owns 2,327 shares in the company, valued at approximately $264,370.47. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the transaction, the director now owns 4,546 shares of the company’s stock, valued at $500,560.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,795 shares of company stock worth $1,329,686. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BOOT. Victory Capital Management Inc. grew its stake in Boot Barn by 17.3% during the 3rd quarter. Victory Capital Management Inc. now owns 8,808 shares of the company’s stock worth $715,000 after buying an additional 1,298 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Boot Barn by 1.7% in the third quarter. Arizona State Retirement System now owns 8,516 shares of the company’s stock worth $691,000 after purchasing an additional 142 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Boot Barn in the third quarter worth $306,000. Keybank National Association OH grew its stake in shares of Boot Barn by 12.9% in the third quarter. Keybank National Association OH now owns 4,545 shares of the company’s stock worth $369,000 after purchasing an additional 518 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Boot Barn in the third quarter worth $648,000.

About Boot Barn

(Get Free Report)

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.

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