Boot Barn (NYSE:BOOT) Upgraded to “Strong-Buy” at Baird R W

Baird R W upgraded shares of Boot Barn (NYSE:BOOT) from a hold rating to a strong-buy rating in a report released on Wednesday, Zacks.com reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Benchmark restated a “buy” rating and set a $192.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. Piper Sandler restated an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Up 0.7 %

Shares of BOOT stock opened at $125.47 on Wednesday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 25.19 and a beta of 2.12. Boot Barn has a twelve month low of $67.53 and a twelve month high of $169.83. The stock’s fifty day simple moving average is $153.67 and its 200 day simple moving average is $132.48.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. As a group, equities research analysts expect that Boot Barn will post 5.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. GHP Investment Advisors Inc. purchased a new stake in Boot Barn in the third quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in shares of Boot Barn by 111.1% during the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn during the second quarter valued at approximately $64,000. 1620 Investment Advisors Inc. purchased a new position in shares of Boot Barn during the second quarter valued at approximately $84,000. Finally, USA Financial Formulas purchased a new position in shares of Boot Barn during the third quarter valued at approximately $92,000.

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.