UBS Group Raises Boot Barn (NYSE:BOOT) Price Target to $165.00

Boot Barn (NYSE:BOOT) had its price objective boosted by UBS Group from $127.00 to $165.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. BTIG Research lifted their price target on Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Robert W. Baird lifted their price target on Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Citigroup lifted their price target on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Piper Sandler lifted their price target on Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Boot Barn presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Boot Barn Price Performance

Boot Barn stock opened at $165.56 on Wednesday. The stock has a market capitalization of $5.03 billion, a PE ratio of 34.49 and a beta of 2.12. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83. The business has a 50 day simple moving average of $151.63 and a 200-day simple moving average of $129.12.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The business had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. On average, equities research analysts anticipate that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Boot Barn by 111.1% in the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Boot Barn in the second quarter valued at $64,000. USA Financial Formulas purchased a new stake in Boot Barn in the third quarter valued at $92,000. 1620 Investment Advisors Inc. purchased a new stake in Boot Barn in the second quarter valued at $84,000. Finally, First Horizon Advisors Inc. raised its position in Boot Barn by 11.2% in the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock valued at $120,000 after purchasing an additional 94 shares during the period.

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.