Boot Barn’s (BOOT) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Boot Barn (NYSE:BOOT) in a report issued on Monday morning,Benzinga reports. The brokerage currently has a $195.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC began coverage on shares of Boot Barn in a research note on Friday, October 16th. They issued a “buy” rating and a $150.00 price objective for the company. UBS Group lowered their target price on shares of Boot Barn from $232.00 to $194.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Zacks Research lowered shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Jefferies Financial Group restated a “buy” rating and set a $175.00 price target on shares of Boot Barn in a research note on Friday, October 30th. Finally, Robert W. Baird decreased their price objective on Boot Barn from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.92.

Boot Barn Stock Performance

NYSE BOOT opened at $135.44 on Monday. The firm has a 50-day simple moving average of $127.84 and a 200 day simple moving average of $156.16. Boot Barn has a twelve month low of $110.53 and a twelve month high of $210.25. The stock has a market cap of $4.05 billion, a PE ratio of 16.40, a PEG ratio of 1.03 and a beta of 1.72.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. Boot Barn had a return on equity of 18.82% and a net margin of 10.45%. The company had revenue of $581.81 million during the quarter, compared to the consensus estimate of $580.80 million. During the same quarter last year, the company earned $1.37 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Research analysts forecast that Boot Barn will post 8.93 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in Boot Barn during the 3rd quarter worth $36,000. GW&K Investment Management LLC grew its holdings in Boot Barn by 3.5% during the third quarter. GW&K Investment Management LLC now owns 177,463 shares of the company’s stock valued at $21,379,000 after purchasing an additional 5,984 shares during the period. Stephens Investment Management Group LLC raised its stake in Boot Barn by 27.8% during the 3rd quarter. Stephens Investment Management Group LLC now owns 619,772 shares of the company’s stock worth $74,664,000 after buying an additional 134,669 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Boot Barn by 92.5% in the third quarter. Public Sector Pension Investment Board now owns 200,672 shares of the company’s stock valued at $23,569,000 after buying an additional 96,404 shares during the period. Finally, South Dakota Investment Council raised its stake in shares of Boot Barn by 164.1% in the 3rd quarter. South Dakota Investment Council now owns 4,023 shares of the company’s stock valued at $485,000 after purchasing an additional 2,500 shares during the period.

Boot Barn Company Profile

Boot Barn Holdings, Inc. is a U.S. retailer specializing in Western and work-related footwear, apparel and accessories. It serves customers through retail stores and online sales. Its merchandise includes cowboy boots and other footwear, jeans, shirts, hats, outerwear, work clothing and safety footwear. Boot Barn sells products from third-party brands as well as private-label brands. The company serves customers across the United States and caters to Western lifestyle, workwear and outdoor customers.