Boot Barn (NYSE:BOOT) Reaches New 52-Week High After Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $127.00 to $165.00. UBS Group currently has a neutral rating on the stock. Boot Barn traded as high as $169.83 and last traded at $169.61, with a volume of 161586 shares trading hands. The stock had previously closed at $167.10.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler increased their price target on shares of Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Citigroup upped their price target on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Benchmark lifted their price objective on shares of Boot Barn from $140.00 to $192.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, BTIG Research increased their target price on shares of Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Boot Barn by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after buying an additional 35,925 shares during the last quarter. Wasatch Advisors LP boosted its position in Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after acquiring an additional 649,021 shares during the period. Westwood Holdings Group Inc. boosted its position in Boot Barn by 29.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock worth $51,918,000 after acquiring an additional 124,060 shares during the period. Jennison Associates LLC grew its stake in shares of Boot Barn by 19.6% in the first quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock worth $50,513,000 after purchasing an additional 86,969 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of Boot Barn during the first quarter valued at $32,779,000.

Boot Barn Stock Down 0.5 %

The firm has a market capitalization of $5.03 billion, a P/E ratio of 34.49 and a beta of 2.12. The business’s 50 day moving average is $151.63 and its two-hundred day moving average is $129.12.

Boot Barn (NYSE:BOOT) last issued 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 net margin of 8.89% and a return on equity of 16.44%. The company had revenue of $423.40 million during the quarter, compared to analyst estimates of $415.04 million. During the same period in the prior year, the business posted $1.11 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.29 earnings per share for the current fiscal year.

About Boot Barn

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.