Piper Sandler Reaffirms “Overweight” Rating for Boot Barn (NYSE:BOOT)

Piper Sandler reiterated their overweight rating on shares of Boot Barn (NYSE:BOOT) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $179.00 target price on the stock.

A number of other brokerages have also recently commented on BOOT. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and increased their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. BTIG Research raised their price target on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Williams Trading restated a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Trading Up 0.7 %

Shares of NYSE BOOT opened at $125.47 on Tuesday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 25.19 and a beta of 2.12. Boot Barn has a 52 week low of $67.53 and a 52 week high of $169.83. The company’s 50-day moving average price is $153.67 and its 200 day moving average price is $132.48.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. As a group, research analysts expect that Boot Barn will post 5.48 earnings per share for the current year.

Hedge Funds Weigh In On Boot Barn

Hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new position in shares of Boot Barn in the 3rd quarter valued at $25,000. GAMMA Investing LLC lifted its holdings in shares of Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after acquiring an additional 140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Boot Barn during the 2nd quarter valued at $64,000. 1620 Investment Advisors Inc. acquired a new position in shares of Boot Barn during the 2nd quarter valued at $84,000. Finally, USA Financial Formulas acquired a new position in shares of Boot Barn during the 3rd quarter valued at $92,000.

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.