Boot Barn (NYSE:BOOT) Given New $140.00 Price Target at Robert W. Baird

Boot Barn (NYSE:BOOT) had its price target hoisted by Robert W. Baird from $132.00 to $140.00 in a research report report published on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other analysts also recently commented on the company. UBS Group downgraded Boot Barn from a buy rating to a neutral rating and decreased their target price for the stock from $140.00 to $125.00 in a research report on Wednesday, July 24th. Craig Hallum increased their price objective on shares of Boot Barn from $120.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Piper Sandler lifted their target price on shares of Boot Barn from $94.00 to $110.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Benchmark reiterated a buy rating and issued a $140.00 price target on shares of Boot Barn in a research report on Tuesday, August 6th. Finally, BTIG Research lifted their price objective on Boot Barn from $125.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $138.20.

Boot Barn Stock Up 1.6 %

NYSE:BOOT opened at $133.88 on Thursday. The firm’s fifty day simple moving average is $127.00 and its 200-day simple moving average is $106.87. The stock has a market cap of $4.07 billion, a PE ratio of 27.89 and a beta of 2.09. Boot Barn has a fifty-two week low of $66.73 and a fifty-two week high of $137.48.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $415.04 million. During the same period in the prior year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Boot Barn will post 5.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael A. Love sold 1,079 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total transaction of $118,916.59. Following the sale, the insider now owns 2,112 shares in the company, valued at $232,763.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Brenda I. Morris sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total value of $165,165.00. Following the completion of the sale, the director now directly owns 4,546 shares in the company, valued at $500,560.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael A. Love sold 1,079 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total transaction of $118,916.59. Following the transaction, the insider now directly owns 2,112 shares in the company, valued at approximately $232,763.52. The disclosure for this sale can be found here. In the last three months, insiders sold 11,795 shares of company stock valued at $1,329,686. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Boot Barn by 186.6% in the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after purchasing an additional 1,675,410 shares during the period. Wasatch Advisors LP lifted its stake in Boot Barn by 43.8% during the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after purchasing an additional 649,021 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Boot Barn in the fourth quarter worth $32,361,000. Capital Research Global Investors bought a new stake in Boot Barn during the first quarter valued at $32,779,000. Finally, Janus Henderson Group PLC grew its position in shares of Boot Barn by 1,212.4% during the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after buying an additional 263,444 shares during 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.