Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Boot Barn Holdings, Inc. (NYSE:BOOT) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $157.20.

A number of analysts have weighed in on the company. Piper Sandler increased their price target on Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. BTIG Research increased their price objective on shares of Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Citigroup increased their price objective on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Robert W. Baird increased their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th.

Boot Barn Trading Up 2.2 %

Shares of Boot Barn stock opened at $161.46 on Tuesday. The business has a 50-day moving average price of $154.70 and a two-hundred day moving average price of $132.17. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83. The company has a market cap of $4.91 billion, a P/E ratio of 33.64 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The firm had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. During the same period last year, the business posted $1.11 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Boot Barn will post 5.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Several large investors have recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Boot Barn in the 3rd quarter valued at about $408,000. GHP Investment Advisors Inc. purchased a new stake in Boot Barn in the 3rd quarter valued at about $25,000. Trust Point Inc. increased its stake in Boot Barn by 0.8% in the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after buying an additional 71 shares during the last quarter. nVerses Capital LLC purchased a new stake in Boot Barn in the 3rd quarter valued at about $335,000. Finally, FLC Capital Advisors purchased a new stake in Boot Barn in the 3rd quarter valued at about $218,000.

About Boot Barn

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.