BTIG Research Raises Boot Barn (NYSE:BOOT) Price Target to $190.00

Boot Barn (NYSE:BOOT) had its price objective increased by BTIG Research from $185.00 to $190.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $155.00 to $210.00 in a report on Friday. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and upped their target price for the stock from $154.00 to $162.00 in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research report on Wednesday, October 30th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $171.17.

Boot Barn Trading Down 0.5 %

Shares of NYSE BOOT opened at $155.35 on Monday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 31.19 and a beta of 2.10. The firm’s 50-day moving average price is $145.07 and its 200-day moving average price is $143.25. Boot Barn has a 1-year low of $69.35 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business had revenue of $425.80 million for 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 for the quarter was up 13.7% on a year-over-year basis. Equities research analysts forecast that Boot Barn will post 5.48 EPS for the current year.

Insider Buying and Selling at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of Boot Barn 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 sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Boot Barn

Large investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of Boot Barn during the 2nd quarter worth $19,532,000. State Street Corp lifted its holdings in Boot Barn by 4.4% during the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after purchasing an additional 51,356 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Boot Barn by 56.5% during the third quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after purchasing an additional 51,032 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Boot Barn in the third quarter worth about $5,931,000. Finally, Sei Investments Co. raised 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 purchasing 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.