Boot Barn (NYSE:BOOT) Stock Price Expected to Rise, BTIG Research Analyst Says

Boot Barn (NYSE:BOOTGet Free Report) had its price objective lifted by BTIG Research from $185.00 to $190.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 26.16% from the stock’s current price.

BOOT has been the topic of several other reports. Robert W. Baird raised 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, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Boot Barn in a research report on Tuesday, January 7th. They set a “buy” rating and a $187.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $171.17.

Check Out Our Latest Stock Report on Boot Barn

Boot Barn Stock Performance

NYSE:BOOT opened at $150.60 on Monday. The firm has a market cap of $4.60 billion, a P/E ratio of 30.24 and a beta of 2.10. Boot Barn has a fifty-two week low of $69.35 and a fifty-two week high of $169.83. The firm has a 50-day simple moving average of $145.07 and a two-hundred day simple moving average of $143.25.

Boot Barn (NYSE:BOOTGet Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. On average, equities research analysts predict that Boot Barn will post 5.48 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Hazen sold 6,311 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Boot Barn

Hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in shares of Boot Barn during the 3rd quarter valued at $25,000. Canada Pension Plan Investment Board bought a new position in Boot Barn in the 2nd quarter worth $64,000. GAMMA Investing LLC increased its stake in Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $89,000 after buying an additional 268 shares in the last quarter. USA Financial Formulas bought a new stake in Boot Barn during the third quarter valued at about $92,000. Finally, KBC Group NV lifted its position in shares of Boot Barn by 23.3% in the third quarter. KBC Group NV now owns 951 shares of the company’s stock valued at $159,000 after acquiring an additional 180 shares in the last quarter.

Boot Barn Company Profile

(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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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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