Boot Barn (NYSE:BOOT) PT Lowered to $178.00 at Citigroup

Boot Barn (NYSE:BOOT) had its target price reduced by research analysts at Citigroup from $194.00 to $178.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 36.97% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on BOOT. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the company from $154.00 to $162.00 in a research note on Friday. Williams Trading restated a “buy” rating and set a $173.00 price target on shares of Boot Barn in a research report on Tuesday. Robert W. Baird lifted their price objective on Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Benchmark restated a “buy” rating and set a $192.00 target price on shares of Boot Barn in a report on Tuesday. Finally, Piper Sandler boosted their price objective on Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research report 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Trading Down 19.4 %

Shares of Boot Barn stock traded down $31.26 on Tuesday, hitting $129.96. 1,866,172 shares of the company traded hands, compared to its average volume of 745,988. The company has a market cap of $3.95 billion, a P/E ratio of 27.08 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 firm’s 50-day simple moving average is $154.70 and its 200 day simple moving average is $132.17.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The firm 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 16.44% and a net margin of 8.89%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. Analysts predict that Boot Barn will post 5.29 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently modified their holdings of BOOT. GHP Investment Advisors Inc. bought a new stake in shares of Boot Barn during the third quarter valued at approximately $25,000. GAMMA Investing LLC boosted its holdings in shares of Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after buying an additional 140 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Boot Barn in the 2nd quarter worth about $64,000. 1620 Investment Advisors Inc. bought a new position in shares of Boot Barn in the 2nd quarter worth about $84,000. Finally, USA Financial Formulas bought a new position in shares of Boot Barn in the 3rd quarter worth about $92,000.

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.