Boot Barn Holdings, Inc. (NYSE:BOOT) Given Average Rating of “Moderate Buy” by Brokerages

Boot Barn Holdings, Inc. (NYSE:BOOT) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $164.55.

A number of research analysts have recently issued reports on BOOT shares. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Benchmark reiterated a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Citigroup reduced their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $137.12 on Friday. Boot Barn has a 1-year low of $68.37 and a 1-year high of $169.83. The stock has a market cap of $4.19 billion, a P/E ratio of 27.53 and a beta of 2.16. The firm has a fifty day moving average price of $151.42 and a 200 day moving average price of $135.50.

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

Institutional Investors Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of the company. Coldstream Capital Management Inc. acquired a new position in Boot Barn during the third quarter worth $212,000. Geode Capital Management LLC increased its position in shares of Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after buying an additional 6,369 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Boot Barn during the 3rd quarter worth $1,763,000. Tabor Asset Management LP purchased a new stake in shares of Boot Barn in the 3rd quarter worth about $1,536,000. Finally, State Street Corp grew its stake in Boot Barn by 4.4% in the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after acquiring an additional 51,356 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.