Boot Barn (NYSE:BOOT) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Boot Barn (NYSE:BOOT) in a report released on Tuesday. The brokerage issued a buy rating and a $187.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Benchmark reissued a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.42.

Boot Barn Price Performance

NYSE:BOOT opened at $160.38 on Tuesday. Boot Barn has a 1 year low of $69.35 and a 1 year high of $169.83. The stock’s fifty day moving average price is $142.56 and its two-hundred day moving average price is $142.42. The company has a market cap of $4.90 billion, a P/E ratio of 32.20 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping 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 business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the 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 owns 3,937 shares in the company, valued at approximately $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Boot Barn

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new stake in Boot Barn during the second quarter worth about $19,532,000. State Street Corp lifted its holdings in shares of Boot Barn by 4.4% during the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after purchasing an additional 51,356 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Boot Barn by 56.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after purchasing an additional 51,032 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Boot Barn in the 3rd quarter worth approximately $5,931,000. Finally, Sei Investments Co. increased its position in Boot Barn by 39.3% during the 2nd quarter. Sei Investments Co. now owns 102,933 shares of the company’s stock valued at $13,271,000 after buying an additional 29,049 shares in the last quarter.

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.