JPMorgan Chase & Co. Issues Positive Forecast for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT) had its price objective hoisted by JPMorgan Chase & Co. from $181.00 to $188.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

BOOT has been the topic of a number of other reports. Williams Trading reiterated a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a report on Wednesday, October 30th. Citigroup decreased their price target on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.75.

Boot Barn Price Performance

BOOT stock opened at $155.95 on Wednesday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 31.32 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 business has a fifty day moving average price of $143.92 and a 200 day moving average price of $142.67.

Boot Barn (NYSE:BOOT) last released its earnings results on Monday, October 28th. The company reported $0.95 EPS 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 analysts’ expectations of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. On average, equities analysts expect that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of Boot Barn in the second quarter valued at approximately $19,532,000. State Street Corp grew its holdings in Boot Barn by 4.4% in the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after buying an additional 51,356 shares in the last quarter. JPMorgan Chase & Co. increased its position in Boot Barn by 56.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after buying an additional 51,032 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Boot Barn during the third quarter worth $5,931,000. Finally, Sei Investments Co. boosted its position in shares of Boot Barn by 39.3% in the second quarter. Sei Investments Co. now owns 102,933 shares of the company’s stock valued at $13,271,000 after acquiring an additional 29,049 shares during the period.

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.