Boot Barn (NYSE:BOOT) PT Raised to $179.00 at Piper Sandler

Boot Barn (NYSE:BOOT) had its price objective boosted by research analysts at Piper Sandler from $147.00 to $179.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 9.66% from the company’s current price.

Several other research firms have also commented on BOOT. JPMorgan Chase & Co. upped their price objective on Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Citigroup upped their price objective on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Benchmark upped their price objective on Boot Barn from $140.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BTIG Research upped their target price on Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird upped their target price on Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.20.

Boot Barn Stock Up 1.0 %

Shares of NYSE BOOT opened at $163.23 on Monday. The business’s 50 day moving average price is $149.27 and its 200 day moving average price is $128.12. The firm has a market cap of $4.96 billion, a P/E ratio of 34.01 and a beta of 2.12. Boot Barn has a 52 week low of $66.73 and a 52 week high of $169.07.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $423.40 million for the quarter, compared to analyst estimates of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. Boot Barn’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 earnings per share. As a group, research analysts expect that Boot Barn will post 5.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BOOT. GAMMA Investing LLC increased its stake in shares of Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn in the 2nd quarter valued at about $64,000. 1620 Investment Advisors Inc. purchased a new position in shares of Boot Barn in the 2nd quarter valued at about $84,000. USA Financial Formulas acquired a new stake in shares of Boot Barn during the 3rd quarter worth about $92,000. Finally, First Horizon Advisors Inc. raised its position in shares of Boot Barn by 11.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after acquiring an additional 94 shares in the last quarter.

Boot Barn Company Profile

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.