Boot Barn (NYSE:BOOT) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Boot Barn (NYSE:BOOT) from a hold rating to a buy rating in a report issued on Saturday, November 11th.

Several other analysts have also recently weighed in on BOOT. Citigroup boosted their price objective on Boot Barn from $10.00 to $12.00 and gave the stock a buy rating in a report on Friday, November 3rd. Robert W. Baird upped their price target on Boot Barn from $11.00 to $13.00 and gave the company an outperform rating in a research note on Friday, November 3rd. Jefferies Group increased their target price on Boot Barn from $12.00 to $13.00 and gave the stock a buy rating in a research note on Friday, November 3rd. TheStreet raised Boot Barn from a d rating to a c rating in a research report on Monday, October 30th. Finally, Zacks Investment Research raised Boot Barn from a hold rating to a buy rating and set a $9.75 price target for the company in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $11.97.

Shares of Boot Barn (BOOT) traded up $0.31 during mid-day trading on Friday, reaching $14.81. 509,581 shares of the company were exchanged, compared to its average volume of 376,348. Boot Barn has a fifty-two week low of $5.90 and a fifty-two week high of $16.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.32 and a quick ratio of 0.16. The company has a market capitalization of $380.27, a price-to-earnings ratio of 24.59, a P/E/G ratio of 1.50 and a beta of 1.24.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Boot Barn had a net margin of 2.32% and a return on equity of 8.70%. The firm had revenue of $143.10 million for the quarter, compared to the consensus estimate of $139.92 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. equities analysts anticipate that Boot Barn will post 0.61 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Frontier Capital Management Co. LLC boosted its stake in shares of Boot Barn by 3.5% during the third quarter. Frontier Capital Management Co. LLC now owns 2,487,413 shares of the company’s stock valued at $22,138,000 after purchasing an additional 84,222 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Boot Barn by 26.1% during the second quarter. Franklin Resources Inc. now owns 1,840,355 shares of the company’s stock valued at $13,030,000 after purchasing an additional 381,163 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of Boot Barn by 15.7% during the third quarter. Stephens Investment Management Group LLC now owns 1,568,993 shares of the company’s stock valued at $13,964,000 after purchasing an additional 213,405 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Boot Barn by 38.0% during the third quarter. Dimensional Fund Advisors LP now owns 865,400 shares of the company’s stock valued at $7,702,000 after purchasing an additional 238,407 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Boot Barn by 1.8% during the third quarter. Citadel Advisors LLC now owns 540,305 shares of the company’s stock valued at $4,808,000 after purchasing an additional 9,437 shares in the last quarter.

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About Boot Barn

Boot Barn Holdings, Inc is a lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company’s stores are located in or near neighborhood shopping centers with trade areas of approximately five or more miles, and it has opened stores in malls and outlet center locations.

Analyst Recommendations for Boot Barn (NYSE:BOOT)

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