Piper Sandler Raises Boot Barn (NYSE:BOOT) Price Target to $110.00

Boot Barn (NYSE:BOOT) had its target price upped by Piper Sandler from $94.00 to $110.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also weighed in on BOOT. KeyCorp began coverage on shares of Boot Barn in a research note on Wednesday, February 7th. They set a sector weight rating for the company. B. Riley lowered their target price on Boot Barn from $92.00 to $83.00 and set a buy rating for the company in a report on Thursday, February 1st. Williams Trading restated a hold rating on shares of Boot Barn in a research report on Tuesday, January 16th. StockNews.com lowered Boot Barn from a hold rating to a sell rating in a research report on Friday, January 19th. Finally, BTIG Research reduced their price target on shares of Boot Barn from $102.00 to $100.00 and set a buy rating for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $105.56.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $99.62 on Tuesday. Boot Barn has a 1 year low of $64.33 and a 1 year high of $104.91. The firm’s 50-day simple moving average is $92.18 and its 200-day simple moving average is $81.06. The firm has a market cap of $3.02 billion, a PE ratio of 18.55 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.01. The firm had revenue of $520.40 million for the quarter, compared to analysts’ expectations of $520.34 million. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. On average, equities analysts predict that Boot Barn will post 4.72 earnings per share for the current year.

Insider Activity

In other news, insider Laurie Marie Grijalva sold 5,861 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $90.31, for a total value of $529,306.91. Following the sale, the insider now owns 5,861 shares of the company’s stock, valued at approximately $529,306.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gene Eddie Burt sold 1,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total transaction of $85,030.00. Following the completion of the sale, the director now directly owns 1,542 shares of the company’s stock, valued at $131,116.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 5,861 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the sale, the insider now directly owns 5,861 shares of the company’s stock, valued at $529,306.91. The disclosure for this sale can be found here. Insiders sold 26,339 shares of company stock worth $2,413,715 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. State of Wyoming boosted its holdings in shares of Boot Barn by 57.3% during the second quarter. State of Wyoming now owns 552 shares of the company’s stock worth $47,000 after purchasing an additional 201 shares during the period. Headlands Technologies LLC grew its stake in Boot Barn by 1,037.7% in the fourth quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock valued at $60,000 after purchasing an additional 716 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Boot Barn in the 1st quarter worth about $68,000. Principal Securities Inc. purchased a new stake in shares of Boot Barn during the 4th quarter worth about $102,000. Finally, Quest Partners LLC acquired a new stake in shares of Boot Barn during the 4th quarter valued at about $112,000.

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.