Bank of America Begins Coverage on Boot Barn (NYSE:BOOT)

Bank of America initiated coverage on shares of Boot Barn (NYSE:BOOT) in a research note published on Tuesday. The brokerage issued a buy rating and a $187.00 target price on the stock.

A number of other equities research analysts have also issued reports on BOOT. Citigroup reduced their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Williams Trading reiterated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Piper Sandler restated an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their price target for the company from $154.00 to $162.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Boot Barn Stock Down 0.3 %

NYSE:BOOT opened at $159.99 on Tuesday. The company has a market capitalization of $4.88 billion, a P/E ratio of 32.13 and a beta of 2.10. The stock’s fifty day moving average is $143.92 and its two-hundred day moving average is $142.67. Boot Barn has a 52 week low of $69.35 and a 52 week high of $169.83.

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

Insider Activity at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the transaction, the chief executive officer now owns 3,937 shares in the company, valued at $602,282.26. This trade represents a 61.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boot Barn

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew 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 purchasing an additional 6,369 shares during the period. Algert Global LLC raised its stake in shares of Boot Barn by 653.9% during the third quarter. Algert Global LLC now owns 23,001 shares of the company’s stock valued at $3,848,000 after purchasing an additional 19,950 shares during the period. Blueshift Asset Management LLC purchased a new stake in Boot Barn during the 3rd quarter worth $3,343,000. Public Sector Pension Investment Board grew its stake in shares of Boot Barn by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock valued at $8,626,000 after acquiring an additional 4,785 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Boot Barn by 51.1% in the 3rd quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock valued at $2,402,000 after purchasing an additional 4,856 shares in 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.