Boot Barn Holdings, Inc. (NYSE:BOOT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $143.80.

Several brokerages have recently issued reports on BOOT. Benchmark reaffirmed a “buy” rating and issued a $140.00 price target on shares of Boot Barn in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Piper Sandler upped their price target on Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird raised their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, BTIG Research upped their target price on shares of Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th.

Boot Barn Stock Performance

NYSE:BOOT opened at $163.71 on Friday. The company has a market capitalization of $4.98 billion, a P/E ratio of 34.11 and a beta of 2.11. The stock’s 50 day moving average price is $142.67 and its 200 day moving average price is $123.20. Boot Barn has a 52 week low of $66.73 and a 52 week high of $169.07.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Boot Barn will post 5.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently bought and sold shares of BOOT. GAMMA Investing LLC increased its stake in shares of Boot Barn by 111.1% in the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after buying an additional 140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Boot Barn in the 2nd quarter valued at about $64,000. 1620 Investment Advisors Inc. bought a new position in shares of Boot Barn in the second quarter worth about $84,000. First Horizon Advisors Inc. lifted its position in shares of Boot Barn by 11.2% during the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after purchasing an additional 94 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Boot Barn by 9.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,461 shares of the company’s stock valued at $188,000 after purchasing an additional 126 shares during 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.