Boot Barn (NYSE:BOOT) Stock Price Expected to Rise, Bank of America Analyst Says

Boot Barn (NYSE:BOOT) had its price target lifted by research analysts at Bank of America from $187.00 to $192.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 25.05% from the stock’s current price.

Several other brokerages also recently weighed in on BOOT. Piper Sandler restated an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Williams Trading restated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $155.00 to $210.00 in a report on Friday, January 10th. Finally, BTIG Research raised their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $171.58.

Boot Barn Stock Performance

NYSE BOOT opened at $153.54 on Wednesday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.59 and a beta of 2.10. The firm has a 50 day simple moving average of $145.96 and a 200-day simple moving average of $143.46. Boot Barn has a one year low of $69.35 and a one year high of $169.83.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. Equities analysts predict that Boot Barn will post 5.48 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction dated Thursday, January 2nd. The stock was 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. The trade was a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew 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 acquiring an additional 6,369 shares during the last quarter. Algert Global LLC boosted its stake in Boot Barn by 653.9% during the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after purchasing an additional 19,950 shares during the period. Blueshift Asset Management LLC purchased a new position in Boot Barn during the 3rd quarter worth $3,343,000. Public Sector Pension Investment Board increased its stake in Boot Barn by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock valued at $8,626,000 after purchasing an additional 4,785 shares during the period. Finally, Dale Q Rice Investment Management Ltd purchased a new stake in shares of Boot Barn in the fourth quarter valued at about $1,544,000.

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.