Boot Barn (NYSE:BOOT) Price Target Raised to $180.00

Boot Barn (NYSE:BOOT) had its target price increased by Citigroup from $137.00 to $180.00 in a research note published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

BOOT has been the subject of a number of other reports. KeyCorp dropped their target price on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Piper Sandler increased their target price on shares of Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Wednesday, April 23rd. Robert W. Baird increased their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Stephens assumed coverage on shares of Boot Barn in a report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.62.

Boot Barn Trading Up 1.3%

Shares of NYSE:BOOT opened at $156.99 on Friday. The stock’s 50-day moving average price is $107.05 and its 200-day moving average price is $130.08. Boot Barn has a 12-month low of $86.17 and a 12-month high of $176.64. The stock has a market capitalization of $4.80 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The company had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period last year, the business posted $0.96 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts predict that Boot Barn will post 5.82 EPS for the current year.

Boot Barn announced that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Boot Barn

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Boot Barn by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock valued at $517,686,000 after purchasing an additional 73,089 shares during the last quarter. FMR LLC lifted its holdings in shares of Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company’s stock valued at $335,720,000 after purchasing an additional 709,903 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock valued at $173,351,000 after purchasing an additional 280,892 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Boot Barn by 24.8% during the first quarter. Invesco Ltd. now owns 903,453 shares of the company’s stock valued at $97,058,000 after purchasing an additional 179,710 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.