Boot Barn’s (BOOT) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Boot Barn (NYSE:BOOT) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $179.00 target price on the stock.

Several other equities analysts also recently weighed in on the company. UBS Group raised their price objective on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and lifted their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. Citigroup lowered their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday. BTIG Research raised their target price on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Performance

Boot Barn stock opened at $124.54 on Tuesday. Boot Barn has a one year low of $66.73 and a one year high of $169.83. The company has a market cap of $3.79 billion, a P/E ratio of 25.94 and a beta of 2.12. The business has a fifty day moving average of $154.30 and a two-hundred day moving average of $132.35.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The firm had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. Sell-side analysts predict that Boot Barn will post 5.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GHP Investment Advisors Inc. bought a new position in shares of Boot Barn during the third quarter worth about $25,000. GAMMA Investing LLC boosted its position in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Boot Barn during the second quarter worth about $64,000. 1620 Investment Advisors Inc. bought a new position in Boot Barn in the 2nd quarter worth about $84,000. Finally, USA Financial Formulas acquired a new stake in Boot Barn in the 3rd quarter valued at approximately $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.