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

Boot Barn (NYSE:BOOT) had its target price hoisted by BTIG Research from $185.00 to $190.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the stock. Williams Trading reissued a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Piper Sandler restated an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Citigroup lowered their price target on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.58.

Boot Barn Trading Up 1.0 %

NYSE BOOT opened at $151.51 on Monday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 30.42 and a beta of 2.10. The company has a 50 day moving average of $145.48 and a 200-day moving average of $143.41. Boot Barn has a 1-year low of $69.35 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 15.89% and a net margin of 8.73%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. On average, equities research analysts forecast that Boot Barn will post 5.48 earnings per share for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds have recently made changes to their positions in BOOT. GHP Investment Advisors Inc. bought a new stake in Boot Barn in the third quarter valued at approximately $25,000. Canada Pension Plan Investment Board acquired a new position in shares of Boot Barn in the 2nd quarter worth approximately $64,000. GAMMA Investing LLC boosted its stake in shares of Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Boot Barn during the third quarter worth $92,000. Finally, KBC Group NV raised its stake in Boot Barn by 23.3% during the third quarter. KBC Group NV now owns 951 shares of the company’s stock worth $159,000 after buying an additional 180 shares during the last quarter.

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.