Boot Barn’s (BOOT) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Boot Barn (NYSE:BOOT) in a report released on Friday morning,Benzinga reports. Piper Sandler currently has a $181.00 target price on the stock, up from their prior target price of $179.00.

Several other brokerages have also issued reports on BOOT. Williams Trading reissued a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and upped their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. UBS Group raised Boot Barn from a “neutral” rating to a “buy” rating and raised their price objective for the company from $155.00 to $210.00 in a research report on Friday, January 10th. Citigroup decreased their price target on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boot Barn has an average rating of “Buy” and a consensus price target of $182.42.

Boot Barn Stock Down 7.9 %

Shares of BOOT stock opened at $160.70 on Friday. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.57 and a beta of 2.10. The stock has a fifty day moving average of $153.42 and a 200 day moving average of $146.79. Boot Barn has a 52 week low of $71.54 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT) last posted its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. Equities research analysts anticipate that Boot Barn will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently bought and sold shares of BOOT. New York State Common Retirement Fund boosted its stake in Boot Barn by 18.9% in the 4th quarter. New York State Common Retirement Fund now owns 31,265 shares of the company’s stock worth $4,747,000 after purchasing an additional 4,975 shares during the period. Peregrine Capital Management LLC lifted its holdings in shares of Boot Barn by 2.4% in the fourth quarter. Peregrine Capital Management LLC now owns 62,869 shares of the company’s stock worth $9,545,000 after buying an additional 1,466 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Boot Barn during the 4th quarter valued at about $192,000. Principal Financial Group Inc. grew its position in shares of Boot Barn by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 231,933 shares of the company’s stock valued at $35,212,000 after purchasing an additional 28,268 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Boot Barn by 13.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 15,800 shares of the company’s stock worth $2,399,000 after purchasing an additional 1,819 shares during the last quarter.

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.