Boot Barn (NYSE:BOOT) Upgraded to Strong-Buy at Baird R W

Boot Barn (NYSE:BOOT) was upgraded by equities researchers at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Citigroup dropped their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $179.00 price target on shares of Boot Barn in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday. Williams Trading reiterated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday. Finally, Benchmark restated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Trading Down 2.1 %

Shares of BOOT opened at $124.54 on Wednesday. The company’s fifty day simple moving average is $154.30 and its 200 day simple moving average is $132.35. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 25.94 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same period in the previous year, the business earned $0.91 EPS. Boot Barn’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts forecast that Boot Barn will post 5.29 earnings per share for the current year.

Institutional Trading of Boot Barn

A number of large investors have recently bought and sold shares of BOOT. UniSuper Management Pty Ltd bought a new stake in Boot Barn during the 1st quarter valued at $695,000. Sei Investments Co. raised its holdings in shares of Boot Barn by 52.5% in the 1st quarter. Sei Investments Co. now owns 73,884 shares of the company’s stock worth $7,030,000 after acquiring an additional 25,434 shares during the last quarter. Capital Research Global Investors bought a new position in Boot Barn in the 1st quarter valued at about $32,779,000. Jennison Associates LLC boosted its stake in Boot Barn by 19.6% during the 1st quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock valued at $50,513,000 after purchasing an additional 86,969 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Boot Barn by 12.8% during the 1st quarter. Russell Investments Group Ltd. now owns 131,658 shares of the company’s stock worth $12,527,000 after purchasing an additional 14,980 shares in the last quarter.

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.