Boot Barn (NYSE:BOOT) Trading Up 6.1% – Should You Buy?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price shot up 6.1% on Monday . The stock traded as high as $145.51 and last traded at $145.51. 369,517 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 769,024 shares. The stock had previously closed at $137.14.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Craig Hallum lowered Boot Barn from a “buy” rating to a “hold” rating and increased their target price for the company from $154.00 to $162.00 in a research report on Friday, October 25th. Citigroup cut their price target on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Williams Trading reissued a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Stock Performance

The firm has a market capitalization of $4.46 billion, a PE ratio of 27.54 and a beta of 2.16. The stock’s 50 day simple moving average is $149.17 and its two-hundred day simple moving average is $137.08.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities research analysts expect that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

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

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.