Boot Barn (NYSE:BOOT) Price Target Raised to $165.00

Boot Barn (NYSE:BOOT) had its target price upped by BTIG Research from $150.00 to $165.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on BOOT. Robert W. Baird upped their price objective on shares of Boot Barn from $132.00 to $140.00 and gave the company a neutral rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $125.00 to $146.00 and gave the company an overweight rating in a report on Monday, July 22nd. UBS Group boosted their target price on Boot Barn from $125.00 to $127.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. Piper Sandler raised their price target on shares of Boot Barn from $144.00 to $147.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Finally, Benchmark reaffirmed a buy rating and set a $140.00 price target on shares of Boot Barn in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $141.10.

Boot Barn Stock Performance

NYSE BOOT opened at $150.45 on Tuesday. Boot Barn has a 52-week low of $66.73 and a 52-week high of $162.16. The business has a 50 day simple moving average of $131.79 and a 200 day simple moving average of $115.74. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 31.34 and a beta of 2.11.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The business had revenue of $423.40 million for the quarter, compared to the consensus estimate of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. Boot Barn’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. On average, analysts predict that Boot Barn will post 5.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after purchasing an additional 140 shares during the period. Canada Pension Plan Investment Board acquired a new position in Boot Barn in the second quarter valued at $64,000. 1620 Investment Advisors Inc. bought a new stake in Boot Barn during the second quarter valued at $84,000. Principal Securities Inc. bought a new stake in Boot Barn during the fourth quarter valued at $102,000. Finally, Quest Partners LLC acquired a new stake in Boot Barn during the 4th quarter worth about $112,000.

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.