Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $164.55.

A number of equities analysts recently commented on the company. Williams Trading restated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. UBS Group upped their target price on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th.

Boot Barn Stock Performance

Boot Barn stock opened at $137.12 on Friday. The company’s 50 day simple moving average is $151.42 and its 200-day simple moving average is $135.50. Boot Barn has a 1 year low of $68.37 and a 1 year high of $169.83. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 27.53 and a beta of 2.16.

Boot Barn (NYSE:BOOT) last announced its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $424.42 million. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts expect that Boot Barn will post 5.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp lifted its position 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Boot Barn by 1.0% during the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after purchasing an additional 6,369 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Boot Barn by 29.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after purchasing an additional 124,060 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Boot Barn by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock valued at $82,895,000 after purchasing an additional 1,834 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Boot Barn by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock worth $58,999,000 after buying an additional 6,335 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.