Bank of America Boosts Boot Barn (NYSE:BOOT) Price Target to $173.00

Boot Barn (NYSE:BOOT) had its price target lifted by Bank of America from $160.00 to $173.00 in a report released on Thursday,Benzinga reports. Bank of America currently has a buy rating on the stock.

BOOT has been the topic of a number of other reports. KeyCorp dropped their price objective on Boot Barn from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Stephens started coverage on Boot Barn in a report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Boot Barn from $209.00 to $196.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler set a $162.00 price objective on shares of Boot Barn in a research report on Friday, April 25th. Finally, UBS Group lowered their price objective on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.62.

Boot Barn Stock Performance

Boot Barn stock opened at $156.99 on Thursday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 1.17 and a beta of 1.59. Boot Barn has a 52-week low of $86.17 and a 52-week high of $176.64. The firm has a 50 day moving average price of $107.05 and a two-hundred day moving average price of $130.04.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million for the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, equities research analysts predict that Boot Barn will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its board has authorized a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can lifted its position in Boot Barn by 1.4% in the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after acquiring an additional 82 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock worth $1,242,000 after purchasing an additional 83 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock valued at $208,000 after purchasing an additional 97 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Boot Barn by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after purchasing an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Boot Barn by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after buying an additional 100 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.