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

Boot Barn (NYSE:BOOT) had its target price increased by JPMorgan Chase & Co. from $181.00 to $188.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on BOOT. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and raised their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. UBS Group raised their price target on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Citigroup cut 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. Finally, Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and an average target price of $167.00.

Boot Barn Trading Down 0.3 %

Shares of NYSE BOOT opened at $159.99 on Wednesday. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 32.13 and a beta of 2.10. The stock’s 50-day moving average is $143.21 and its 200 day moving average is $142.55. 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 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. On average, analysts forecast that Boot Barn will post 5.48 EPS for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction dated 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 directly owns 3,937 shares of the company’s stock, valued at $602,282.26. This represents a 61.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Several hedge funds have recently bought and sold shares of BOOT. State Street Corp lifted its holdings in shares of 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. Geode Capital Management LLC increased its position in Boot Barn by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after buying an additional 6,369 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Boot Barn by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock valued at $82,895,000 after buying an additional 1,834 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Boot Barn by 1.0% in the third quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock worth $68,004,000 after acquiring an additional 4,226 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Boot Barn by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock worth $58,999,000 after acquiring an additional 6,335 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.