Boot Barn (NYSE:BOOT) Coverage Initiated by Analysts at Bank of America

Equities research analysts at Bank of America began coverage on shares of Boot Barn (NYSE:BOOT) in a report issued on Tuesday. The brokerage set a “buy” rating and a $187.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 16.88% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Benchmark reiterated a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. BTIG Research increased their price target on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Williams Trading reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Boot Barn Stock Performance

NYSE BOOT opened at $159.99 on Tuesday. Boot Barn has a one year low of $69.35 and a one year high of $169.83. The firm has a market cap of $4.88 billion, a PE ratio of 32.13 and a beta of 2.10. The firm’s fifty day moving average is $143.21 and its two-hundred day moving average is $142.55.

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

Insider Transactions at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. This represents a 61.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of Boot Barn by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 84,556 shares of the company’s stock worth $10,902,000 after purchasing an additional 543 shares during the period. Arizona State Retirement System grew its stake in Boot Barn by 1.9% during the second quarter. Arizona State Retirement System now owns 8,483 shares of the company’s stock worth $1,094,000 after buying an additional 160 shares during the period. Choreo LLC acquired a new stake in shares of Boot Barn in the second quarter worth $213,000. Texas Permanent School Fund Corp raised its stake in shares of Boot Barn by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 26,677 shares of the company’s stock valued at $3,439,000 after acquiring an additional 158 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Boot Barn during the 2nd quarter valued at $263,000.

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.