Boot Barn (NYSE:BOOT) Price Target Raised to $110.00

Boot Barn (NYSE:BOOT) had its target price upped by Piper Sandler from $94.00 to $110.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

BOOT has been the topic of a number of other research reports. BTIG Research dropped their price target on Boot Barn from $102.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, February 1st. Williams Trading reaffirmed a hold rating on shares of Boot Barn in a research report on Tuesday, January 16th. B. Riley dropped their price target on Boot Barn from $92.00 to $83.00 and set a buy rating on the stock in a research report on Thursday, February 1st. StockNews.com lowered Boot Barn from a hold rating to a sell rating in a research report on Friday, January 19th. Finally, KeyCorp began coverage on Boot Barn in a research report on Wednesday, February 7th. They set a sector weight rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $105.56.

Boot Barn Trading Down 2.4 %

NYSE:BOOT opened at $98.60 on Tuesday. Boot Barn has a 1-year low of $64.33 and a 1-year high of $104.91. The business’s 50-day moving average price is $91.94 and its two-hundred day moving average price is $80.94. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 18.36 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.01. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. The firm had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. Sell-side analysts predict that Boot Barn will post 4.72 earnings per share for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the transaction, the chief executive officer now directly owns 46,273 shares in the company, valued at $4,274,699.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the transaction, the chief executive officer now directly owns 46,273 shares in the company, valued at $4,274,699.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laurie Marie Grijalva sold 5,861 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total value of $529,306.91. Following the completion of the transaction, the insider now owns 5,861 shares of the company’s stock, valued at $529,306.91. The disclosure for this sale can be found here. Insiders sold a total of 26,339 shares of company stock worth $2,413,715 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BOOT. JPMorgan Chase & Co. boosted its stake in shares of Boot Barn by 18.1% during the 1st quarter. JPMorgan Chase & Co. now owns 85,240 shares of the company’s stock worth $8,080,000 after acquiring an additional 13,089 shares during the period. Raymond James & Associates boosted its stake in shares of Boot Barn by 632.3% during the 1st quarter. Raymond James & Associates now owns 13,467 shares of the company’s stock worth $1,277,000 after acquiring an additional 11,628 shares during the period. American Century Companies Inc. boosted its stake in shares of Boot Barn by 18.1% during the 1st quarter. American Century Companies Inc. now owns 7,079 shares of the company’s stock worth $671,000 after acquiring an additional 1,083 shares during the period. US Bancorp DE boosted its stake in shares of Boot Barn by 3.7% during the 1st quarter. US Bancorp DE now owns 4,478 shares of the company’s stock worth $425,000 after acquiring an additional 161 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Boot Barn by 7.1% during the 1st quarter. Citigroup Inc. now owns 29,162 shares of the company’s stock worth $2,765,000 after acquiring an additional 1,933 shares during the period.

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.