Boot Barn (NYSE:BOOT) PT Raised to $127.00

Boot Barn (NYSE:BOOT) had its price target lifted by analysts at BTIG Research from $100.00 to $127.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 19.32% from the stock’s previous close.

Other equities analysts have also issued reports about the company. B. Riley reduced their price objective on Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. KeyCorp initiated coverage on Boot Barn in a research note on Wednesday, February 7th. They issued a “sector weight” rating on the stock. Robert W. Baird lifted their price objective on Boot Barn from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Piper Sandler lifted their price objective on Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, UBS Group raised Boot Barn from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $108.00 in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.11.

Boot Barn Price Performance

BOOT opened at $106.44 on Monday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.83 and a beta of 2.19. The business has a 50-day moving average of $94.25 and a two-hundred day moving average of $82.23. Boot Barn has a 12 month low of $64.33 and a 12 month high of $110.89.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.01. The business had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. Equities research analysts anticipate that Boot Barn will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of Boot Barn stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the sale, the chief executive officer now directly owns 46,273 shares in the company, valued at approximately $4,274,699.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of Boot Barn stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the sale, the chief executive officer now directly owns 46,273 shares in the company, valued at approximately $4,274,699.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total value of $85,030.00. Following the sale, the director now owns 1,542 shares in the company, valued at $131,116.26. The disclosure for this sale can be found here. Insiders have sold 26,339 shares of company stock worth $2,413,715 in the last three months. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in shares of Boot Barn by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 8,516 shares of the company’s stock valued at $691,000 after acquiring an additional 142 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Boot Barn by 0.5% in the 4th quarter. Natixis Advisors L.P. now owns 32,608 shares of the company’s stock valued at $2,502,000 after acquiring an additional 149 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of Boot Barn by 1.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,342 shares of the company’s stock valued at $889,000 after acquiring an additional 154 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Boot Barn by 7.7% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $248,000 after acquiring an additional 219 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Boot Barn by 2.8% in the 4th quarter. NBC Securities Inc. now owns 8,385 shares of the company’s stock valued at $643,000 after acquiring an additional 228 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.