JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Boot Barn (NYSE:BOOT) Stock

Boot Barn (NYSE:BOOT) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $200.00 to $209.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 30.06% from the company’s previous close.

BOOT has been the topic of a number of other research reports. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target on the stock in a research note on Wednesday, October 30th. BTIG Research boosted their target price on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Thursday, January 23rd. Bank of America lifted their price objective on shares of Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Williams Trading reissued a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $182.42.

Boot Barn Stock Down 7.9 %

NYSE BOOT opened at $160.70 on Friday. Boot Barn has a 52 week low of $71.54 and a 52 week high of $176.64. The company has a 50 day moving average price of $153.42 and a 200 day moving average price of $146.62. The firm has a market cap of $4.90 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.57 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. On average, equities research analysts anticipate that Boot Barn will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Boot Barn

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

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently added to or reduced their stakes in the stock. Trust Point Inc. increased its stake in Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after buying an additional 71 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Boot Barn by 3.7% in the third quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock worth $382,000 after acquiring an additional 82 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Boot Barn by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after purchasing an additional 83 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Boot Barn by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after purchasing an additional 100 shares during the last quarter. Finally, OLD National Bancorp IN lifted its holdings in Boot Barn by 6.2% in the 4th quarter. OLD National Bancorp IN now owns 2,230 shares of the company’s stock valued at $339,000 after purchasing an additional 130 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.