Boot Barn Holdings, Inc. (NYSE:BOOT) Receives $164.55 Average Target Price from Analysts

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $164.55.

BOOT has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Citigroup dropped their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. BTIG Research increased their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after acquiring an additional 6,369 shares in the last quarter. Algert Global LLC raised its position in shares of Boot Barn by 653.9% in the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock valued at $3,848,000 after purchasing an additional 19,950 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Boot Barn in the 3rd quarter valued at approximately $3,343,000. Public Sector Pension Investment Board boosted its stake in Boot Barn by 7.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock worth $8,626,000 after purchasing an additional 4,785 shares in the last quarter. Finally, Raymond James & Associates grew its position in Boot Barn by 1.8% during the 2nd quarter. Raymond James & Associates now owns 49,263 shares of the company’s stock worth $6,351,000 after purchasing an additional 875 shares during the last quarter.

Boot Barn Price Performance

BOOT stock opened at $148.33 on Wednesday. Boot Barn has a 12 month low of $68.37 and a 12 month high of $169.83. The firm’s 50-day moving average is $143.62 and its 200 day moving average is $140.68. The company has a market capitalization of $4.53 billion, a PE ratio of 29.79 and a beta of 2.14.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Sell-side analysts forecast that Boot Barn will post 5.48 EPS for the current fiscal year.

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.