Boot Barn (NYSE:BOOT) Price Target Raised to $192.00

Boot Barn (NYSE:BOOT) had its price target boosted by Bank of America from $187.00 to $192.00 in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on BOOT. UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and increased their price objective for the company from $155.00 to $210.00 in a research note on Friday, January 10th. Benchmark reissued a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Williams Trading reaffirmed a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. BTIG Research increased their price objective on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Citigroup lowered their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.58.

Boot Barn Stock Performance

NYSE BOOT opened at $160.28 on Wednesday. Boot Barn has a twelve month low of $69.35 and a twelve month high of $169.83. The stock has a market cap of $4.89 billion, a PE ratio of 32.19, a PEG ratio of 1.59 and a beta of 2.10. The firm has a 50-day simple moving average of $146.85 and a 200 day simple moving average of $143.74.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.89% and a net margin of 8.73%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Research analysts forecast that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction on Thursday, January 2nd. The stock was 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 trade represents a 61.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Several hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new position in Boot Barn during the 3rd quarter valued at about $25,000. Canada Pension Plan Investment Board bought a new position in Boot Barn in the second quarter valued at approximately $64,000. GAMMA Investing LLC raised its position in shares of Boot Barn by 100.8% during the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after acquiring an additional 268 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Boot Barn in the 3rd quarter valued at $92,000. Finally, KBC Group NV boosted its position in shares of Boot Barn by 23.3% in the 3rd quarter. KBC Group NV now owns 951 shares of the company’s stock worth $159,000 after purchasing an additional 180 shares during the last quarter.

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.