UBS Group Lowers Boot Barn (NYSE:BOOT) Price Target to $200.00

Boot Barn (NYSE:BOOT) had its price objective dropped by analysts at UBS Group from $210.00 to $200.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 38.51% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on BOOT. Williams Trading restated a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Benchmark restated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. BTIG Research lifted their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research note on Wednesday, October 30th. Finally, Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Boot Barn Trading Down 0.8 %

BOOT opened at $144.40 on Monday. The company’s 50 day moving average is $153.52 and its 200 day moving average is $147.14. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.45 and a beta of 2.10. Boot Barn has a 12-month low of $80.33 and a 12-month high of $176.64.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, analysts predict that Boot Barn will post 5.84 EPS for the current fiscal 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 dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of BOOT. Stephens Investment Management Group LLC bought a new stake in Boot Barn during the 4th quarter valued at $46,699,000. Artemis Investment Management LLP bought a new stake in shares of Boot Barn in the 4th quarter valued at about $36,361,000. TimesSquare Capital Management LLC grew its position in shares of Boot Barn by 134.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company’s stock worth $43,973,000 after buying an additional 166,121 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Boot Barn by 92.3% during the 4th quarter. Jennison Associates LLC now owns 340,550 shares of the company’s stock worth $51,702,000 after acquiring an additional 163,451 shares in the last quarter. Finally, State Street Corp boosted its stake in Boot Barn by 4.4% in the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after acquiring an additional 51,356 shares in 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.