Boot Barn (NYSE:BOOT) Stock Rating Upgraded by KeyCorp

Boot Barn (NYSE:BOOT) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $190.00 price target on the stock. KeyCorp’s target price points to a potential upside of 16.33% from the stock’s current price.

BOOT has been the subject of several other research reports. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and increased their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. BTIG Research increased their price target on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 13th. Williams Trading reaffirmed a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Piper Sandler reiterated an “overweight” rating and issued a $179.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Citigroup lowered their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $173.00.

Boot Barn Price Performance

Shares of Boot Barn stock opened at $163.34 on Thursday. The business has a 50 day simple moving average of $148.48 and a two-hundred day simple moving average of $144.54. Boot Barn has a 12 month low of $71.54 and a 12 month high of $169.83. The stock has a market capitalization of $4.98 billion, a P/E ratio of 32.80, a PEG ratio of 1.47 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, research analysts anticipate that Boot Barn will post 5.8 EPS for the current fiscal year.

Insider Transactions at Boot Barn

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

Institutional Trading of Boot Barn

Institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. purchased a new stake in Boot Barn during the 3rd quarter worth about $25,000. Blue Trust Inc. lifted its holdings in Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after buying an additional 143 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Boot Barn in the 2nd quarter valued at about $64,000. GAMMA Investing LLC lifted its holdings in shares of Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Boot Barn in the 3rd quarter valued at about $92,000.

Boot Barn Company Profile

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.