Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $164.55.

A number of analysts have recently commented on BOOT shares. Citigroup cut their target price on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price target on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th.

Boot Barn Stock Up 0.1 %

Shares of Boot Barn stock opened at $149.00 on Wednesday. Boot Barn has a 52 week low of $68.37 and a 52 week high of $169.83. The firm’s 50 day moving average is $145.01 and its two-hundred day moving average is $139.98. The firm has a market capitalization of $4.55 billion, a P/E ratio of 29.92 and a beta of 2.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in Boot Barn during the third quarter worth $25,000. Canada Pension Plan Investment Board acquired a new position in shares of Boot Barn during the 2nd quarter worth $64,000. GAMMA Investing LLC grew its stake in shares of Boot Barn by 100.8% during the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $89,000 after purchasing an additional 268 shares during the period. USA Financial Formulas purchased a new position in shares of Boot Barn in the 3rd quarter valued at about $92,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boot Barn in the second quarter valued at about $84,000.

Boot Barn Company Profile

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.