Boot Barn (NYSE:BOOT) Price Target Lowered to $155.00 at Robert W. Baird

Boot Barn (NYSE:BOOT) had its price objective lowered by equities research analysts at Robert W. Baird from $190.00 to $155.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 38.56% from the stock’s previous close.

Several other research firms also recently weighed in on BOOT. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Bank of America upped their target price on shares of Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Craig Hallum set a $178.00 price objective on shares of Boot Barn in a research report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.92.

Boot Barn Stock Performance

BOOT opened at $111.87 on Wednesday. Boot Barn has a one year low of $82.67 and a one year high of $176.64. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.17 and a beta of 2.07. The business’s fifty day moving average is $148.26 and its two-hundred day moving average is $147.77.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that Boot Barn will post 5.82 EPS for the current fiscal year.

Insider Transactions at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 111 shares during the period. Blue Trust Inc. grew its holdings in Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Assetmark Inc. increased its stake in Boot Barn by 45.2% during the 4th quarter. Assetmark Inc. now owns 363 shares of the company’s stock worth $55,000 after buying an additional 113 shares during the period. R Squared Ltd acquired a new position in Boot Barn in the 4th quarter worth $102,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Boot Barn by 212.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock valued at $115,000 after acquiring an additional 509 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.