Bank of America Issues Positive Forecast for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT) had its target price increased by Bank of America from $187.00 to $192.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Citigroup decreased their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. BTIG Research lifted their target price on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group raised Boot Barn from a “neutral” rating to a “buy” rating and upped their price target for the stock from $155.00 to $210.00 in a research report on Friday, January 10th. Finally, Benchmark reissued a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boot Barn currently has an average rating of “Moderate Buy” and a consensus target price of $171.58.

Boot Barn Trading Up 4.6 %

Shares of Boot Barn stock opened at $160.28 on Wednesday. Boot Barn has a 12 month low of $69.35 and a 12 month high of $169.83. The company has a market capitalization of $4.89 billion, a PE ratio of 32.19, a PEG ratio of 1.59 and a beta of 2.10. The stock’s fifty day simple moving average is $146.85 and its 200 day simple moving average is $143.74.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. Boot Barn’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Analysts predict that Boot Barn will post 5.48 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Hedge funds have recently added to or reduced their stakes in the business. Artemis Investment Management LLP bought a new position in shares of Boot Barn in the fourth quarter valued at about $36,361,000. Marshall Wace LLP acquired a new position in Boot Barn in the 2nd quarter valued at about $19,532,000. State Street Corp raised its holdings 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 period. JPMorgan Chase & Co. lifted its position in Boot Barn by 56.5% during the third quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after acquiring an additional 51,032 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Boot Barn during the third quarter worth approximately $5,931,000.

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.