Brokerages Set Boot Barn Holdings, Inc. (NYSE:BOOT) PT at $123.36

Boot Barn Holdings, Inc. (NYSE:BOOT) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $123.36.

Several brokerages recently commented on BOOT. TD Cowen increased their target price on shares of Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Robert W. Baird raised their price objective on Boot Barn from $100.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Piper Sandler upped their target price on Boot Barn from $94.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. BTIG Research raised their price target on Boot Barn from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. upped their price objective on Boot Barn from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st.

Insider Buying and Selling at Boot Barn

In related news, Director Brenda I. Morris sold 1,500 shares of Boot Barn stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the sale, the director now owns 4,546 shares of the company’s stock, valued at approximately $500,560.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Boot Barn news, insider John Hazen sold 3,563 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $113.21, for a total value of $403,367.23. Following the transaction, the insider now directly owns 1,309 shares of the company’s stock, valued at approximately $148,191.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brenda I. Morris sold 1,500 shares of Boot Barn stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the sale, the director now directly owns 4,546 shares of the company’s stock, valued at approximately $500,560.06. The disclosure for this sale can be found here. Insiders sold 11,795 shares of company stock valued at $1,329,686 in the last quarter. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boot Barn

Several institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC raised its stake in Boot Barn by 1,037.7% in the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after purchasing an additional 716 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Boot Barn during the fourth quarter worth approximately $102,000. Quest Partners LLC acquired a new stake in shares of Boot Barn in the fourth quarter valued at approximately $112,000. Neo Ivy Capital Management bought a new stake in shares of Boot Barn in the fourth quarter valued at approximately $165,000. Finally, SG Americas Securities LLC acquired a new stake in Boot Barn during the fourth quarter worth approximately $199,000.

Boot Barn Price Performance

BOOT opened at $128.93 on Wednesday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 26.86 and a beta of 2.16. The business’s 50-day moving average price is $116.91 and its two-hundred day moving average price is $95.80. Boot Barn has a 1 year low of $66.73 and a 1 year high of $134.61.

Boot Barn (NYSE:BOOT) last announced its earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. The business had revenue of $388.46 million for the quarter, compared to analyst estimates of $383.67 million. Sell-side analysts anticipate that Boot Barn will post 4.82 earnings per share for the current fiscal year.

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.