Boot Barn’s (BOOT) Buy Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Boot Barn (NYSE:BOOT) in a report published on Tuesday, Benzinga reports. They currently have a $192.00 price target on the stock.

BOOT has been the subject of several other research reports. Citigroup increased their target price on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. UBS Group upped their price target on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their target price for the company from $154.00 to $162.00 in a report on Friday, October 25th. Piper Sandler upped their price objective on Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Trading Down 2.1 %

Shares of NYSE:BOOT opened at $124.54 on Tuesday. The company has a market capitalization of $3.79 billion, a PE ratio of 25.94 and a beta of 2.12. Boot Barn has a twelve month low of $66.73 and a twelve month high of $169.83. The firm has a 50 day simple moving average of $154.30 and a 200-day simple moving average of $132.35.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. As a group, equities research analysts predict that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of the business. Trust Point Inc. lifted its holdings in shares of Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after acquiring an additional 71 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Boot Barn by 11.2% during the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after purchasing an additional 94 shares in the last quarter. Shaker Investments LLC OH grew its stake in shares of Boot Barn by 1.6% in the second quarter. Shaker Investments LLC OH now owns 6,452 shares of the company’s stock valued at $832,000 after buying an additional 102 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Boot Barn by 9.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,461 shares of the company’s stock valued at $188,000 after buying an additional 126 shares during the period. Finally, Tilia Fiduciary Partners Inc. raised its holdings in shares of Boot Barn by 1.4% during the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 10,209 shares of the company’s stock valued at $1,316,000 after buying an additional 136 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.