Piper Sandler Raises Boot Barn (NYSE:BOOT) Price Target to $110.00

Boot Barn (NYSE:BOOT) had its target price hoisted by stock analysts at Piper Sandler from $94.00 to $110.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 8.90% from the company’s previous close.

A number of other analysts have also recently issued reports on BOOT. Robert W. Baird raised their target price on shares of Boot Barn from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $108.00 in a report on Friday, January 5th. BTIG Research reduced their price target on shares of Boot Barn from $102.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. B. Riley cut their target price on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Finally, StockNews.com downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.56.

Boot Barn Stock Down 0.2 %

Shares of BOOT stock opened at $101.01 on Tuesday. The firm has a fifty day moving average of $91.66 and a 200-day moving average of $80.81. Boot Barn has a 12-month low of $64.33 and a 12-month high of $104.91. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 18.81 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.80 by $0.01. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. The business had revenue of $520.40 million during the quarter, compared to analysts’ expectations of $520.34 million. On average, equities analysts expect that Boot Barn will post 4.72 EPS for the current year.

Insider Activity at Boot Barn

In other news, Director Gene Eddie Burt sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total value of $85,030.00. Following the transaction, the director now owns 1,542 shares in the company, valued at $131,116.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Laurie Marie Grijalva sold 5,861 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the sale, the insider now owns 5,861 shares in the company, valued at approximately $529,306.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $85.03, for a total value of $85,030.00. Following the completion of the transaction, the director now directly owns 1,542 shares of the company’s stock, valued at approximately $131,116.26. The disclosure for this sale can be found here. Insiders have sold 26,339 shares of company stock valued at $2,413,715 over the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming boosted its stake in Boot Barn by 57.3% in the 2nd quarter. State of Wyoming now owns 552 shares of the company’s stock worth $47,000 after purchasing an additional 201 shares during the period. Headlands Technologies LLC increased its stake in Boot Barn by 1,037.7% in the fourth quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after purchasing an additional 716 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Boot Barn during the 1st quarter worth $68,000. Principal Securities Inc. bought a new position in shares of Boot Barn during the 4th quarter worth $102,000. Finally, Lazard Asset Management LLC grew its position in shares of Boot Barn by 75.3% during the 4th quarter. Lazard Asset Management LLC now owns 1,686 shares of the company’s stock worth $105,000 after buying an additional 724 shares in 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.