Boot Barn Holdings, Inc. (NYSE:BOOT) Given Average Rating of “Moderate Buy” by Brokerages

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

A number of research analysts have commented on BOOT shares. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, BTIG Research lifted their price objective on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in Boot Barn in the second quarter valued at approximately $19,532,000. F M Investments LLC acquired a new stake in shares of Boot Barn in the 2nd quarter valued at $14,888,000. State Street Corp lifted its position in shares of Boot Barn by 4.4% during the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock worth $202,132,000 after purchasing an additional 51,356 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Boot Barn during the third quarter worth $5,931,000. Finally, Sei Investments Co. increased its holdings in Boot Barn by 39.3% in the second 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 during the last quarter.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $149.00 on Wednesday. The company has a market capitalization of $4.55 billion, a P/E ratio of 29.92 and a beta of 2.14. The company has a 50 day simple moving average of $145.01 and a 200-day simple moving average of $139.98. Boot Barn has a 1 year low of $68.37 and a 1 year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (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 company had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, research analysts expect that Boot Barn will post 5.48 EPS for the current year.

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.