Boot Barn (NYSE:BOOT) Given New $190.00 Price Target at BTIG Research

Boot Barn (NYSE:BOOT) had its target price upped by stock analysts at BTIG Research from $185.00 to $190.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 21.56% from the company’s previous close.

A number of other analysts also recently commented on BOOT. Citigroup dropped their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target on the stock in a report on Wednesday, October 30th. Williams Trading reissued a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Piper Sandler restated an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and a consensus price target of $171.17.

Boot Barn Price Performance

NYSE:BOOT traded up $0.16 during trading hours on Monday, reaching $156.30. 635,701 shares of the company traded hands, compared to its average volume of 716,656. The firm’s 50-day moving average is $144.53 and its 200-day moving average is $143.06. The stock has a market cap of $4.77 billion, a P/E ratio of 31.39 and a beta of 2.10. Boot Barn has a 1-year low of $69.35 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last announced its earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to the consensus estimate 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 for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, research analysts predict that Boot Barn will post 5.48 earnings per share for the current year.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction dated 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 owns 3,937 shares of the company’s stock, valued at $602,282.26. This represents a 61.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Boot Barn

Hedge funds have recently made changes to their positions in the stock. Choreo LLC acquired a new stake in Boot Barn in the second quarter worth $213,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Boot Barn in the 2nd quarter worth about $263,000. Oppenheimer Asset Management Inc. lifted its position in Boot Barn by 22.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,223 shares of the company’s stock valued at $2,865,000 after purchasing an additional 4,146 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Boot Barn in the 2nd quarter valued at about $257,000. Finally, Edgestream Partners L.P. boosted its stake in Boot Barn by 14.4% during the 2nd quarter. Edgestream Partners L.P. now owns 3,637 shares of the company’s stock valued at $469,000 after purchasing an additional 457 shares during the period.

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.