BTIG Research Boosts Boot Barn (NYSE:BOOT) Price Target to $190.00

Boot Barn (NYSE:BOOT) had its price target hoisted by stock analysts at BTIG Research from $185.00 to $190.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 26.16% from the company’s previous close.

Several other research firms have also issued reports on BOOT. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price target for the company from $154.00 to $162.00 in a research report on Friday, October 25th. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a report on Wednesday, October 30th. Bank of America started coverage on Boot Barn in a research note on Tuesday, January 7th. They issued a “buy” rating and a $187.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Williams Trading reaffirmed a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.17.

Boot Barn Trading Down 2.8 %

Shares of NYSE BOOT opened at $150.60 on Monday. The stock’s 50-day moving average is $145.07 and its 200 day moving average is $143.25. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 30.24 and a beta of 2.10. Boot Barn has a 1-year low of $69.35 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. On average, analysts forecast that Boot Barn will post 5.48 EPS for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Institutional investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. bought a new stake in shares of Boot Barn during the 3rd quarter valued at $25,000. Canada Pension Plan Investment Board purchased a new position in Boot Barn during the 2nd quarter valued at about $64,000. GAMMA Investing LLC boosted its stake in Boot Barn by 100.8% during the third quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $89,000 after acquiring an additional 268 shares in the last quarter. USA Financial Formulas purchased a new stake in Boot Barn in the third quarter worth about $92,000. Finally, KBC Group NV increased its stake in shares of Boot Barn by 23.3% during the third quarter. KBC Group NV now owns 951 shares of the company’s stock valued at $159,000 after purchasing an additional 180 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.