Boot Barn (NYSE:BOOT) Stock Rating Upgraded by UBS Group

Boot Barn (NYSE:BOOT) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $210.00 target price on the stock, up from their previous target price of $155.00. UBS Group’s target price points to a potential upside of 34.66% from the company’s previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Williams Trading restated a “buy” rating and set a $173.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Finally, Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.75.

Boot Barn Price Performance

NYSE BOOT opened at $155.95 on Friday. The company’s fifty day moving average price is $144.53 and its two-hundred day moving average price is $142.96. Boot Barn has a 12 month low of $69.35 and a 12 month high of $169.83. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 31.32 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. As a group, analysts anticipate that Boot Barn will post 5.48 EPS for the current year.

Insider Transactions at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the company’s 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tilia Fiduciary Partners Inc. increased its holdings in shares of Boot Barn by 1.7% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 9,798 shares of the company’s stock valued at $1,488,000 after purchasing an additional 167 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Boot Barn by 18,573.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 14,939 shares of the company’s stock valued at $2,268,000 after purchasing an additional 14,859 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Boot Barn by 56.5% in the third quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock valued at $23,638,000 after buying an additional 51,032 shares in the last quarter. Franklin Resources Inc. increased its position in Boot Barn by 1.0% during the third quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock worth $68,004,000 after buying an additional 4,226 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Boot Barn during the 3rd quarter worth about $212,000.

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.