Boot Barn (NYSE:BOOT) Price Target Raised to $210.00

Boot Barn (NYSE:BOOT) had its price objective boosted by UBS Group from $156.00 to $210.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on BOOT. JPMorgan Chase & Co. dropped their price objective on Boot Barn from $209.00 to $196.00 and set an “overweight” rating on the stock in a research note on Thursday. Robert W. Baird upped their target price on Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com cut shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Bank of America boosted their price target on shares of Boot Barn from $160.00 to $173.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stephens started coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.62.

Boot Barn Trading Up 1.3%

NYSE BOOT opened at $156.99 on Thursday. The stock has a market cap of $4.80 billion, a PE ratio of 28.03, a PEG ratio of 1.17 and a beta of 1.59. Boot Barn has a 12 month low of $86.17 and a 12 month high of $176.64. The company’s 50-day moving average price is $107.05 and its 200-day moving average price is $130.04.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The company had revenue of $453.75 million during the quarter, compared to analysts’ expectations of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, sell-side analysts forecast that Boot Barn will post 5.82 earnings per share for the current year.

Boot Barn announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Boot Barn

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its stake in Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 111 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after acquiring an additional 143 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Boot Barn during the first quarter valued at about $29,000. Golden State Wealth Management LLC increased its holdings in shares of Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company’s stock valued at $30,000 after acquiring an additional 203 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock valued at $34,000 after purchasing an additional 215 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.