Boot Barn (NYSE:BOOT) Given New $188.00 Price Target at JPMorgan Chase & Co.

Boot Barn (NYSE:BOOT) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $181.00 to $188.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.51% from the stock’s previous close.

A number of other brokerages also recently commented on BOOT. Piper Sandler reiterated an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and boosted their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. BTIG Research lifted their price objective on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $159.99 on Wednesday. The business’s fifty day moving average price is $143.92 and its two-hundred day moving average price is $142.67. The stock has a market cap of $4.88 billion, a PE ratio of 32.13 and a beta of 2.10. Boot Barn has a one year low of $69.35 and a one year high of $169.83.

Boot Barn (NYSE:BOOT) last posted 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 business had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. As a group, equities research analysts predict that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Trust Point Inc. lifted its holdings in shares of Boot Barn by 0.8% during the third quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after buying an additional 71 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Boot Barn by 3.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock valued at $382,000 after purchasing an additional 82 shares in the last quarter. Fisher Asset Management LLC grew its stake in Boot Barn by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after buying an additional 83 shares during the last quarter. Kings Path Partners LLC grew its position in Boot Barn by 2.7% during the 3rd quarter. Kings Path Partners LLC now owns 5,430 shares of the company’s stock worth $908,000 after acquiring an additional 142 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Boot Barn in the third quarter valued at $25,000.

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.