Piper Sandler Reiterates “Overweight” Rating for Boot Barn (NYSE:BOOT)

Boot Barn (NYSE:BOOT)‘s stock had its “overweight” rating restated by stock analysts at Piper Sandler in a research report issued on Friday,Benzinga reports. They presently have a $181.00 price objective on the stock, up from their prior price objective of $179.00. Piper Sandler’s target price points to a potential upside of 6.07% from the company’s previous close.

BOOT has been the subject of a number of other research reports. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Bank of America increased their price objective on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Williams Trading reaffirmed a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Thursday, January 23rd. Finally, Citigroup dropped their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boot Barn presently has an average rating of “Buy” and a consensus price target of $173.15.

Boot Barn Trading Down 2.2 %

NYSE:BOOT traded down $3.88 during mid-day trading on Friday, hitting $170.64. The stock had a trading volume of 497,570 shares, compared to its average volume of 811,889. Boot Barn has a 52 week low of $71.54 and a 52 week high of $176.64. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 1.57 and a beta of 2.10. The company has a 50 day simple moving average of $152.95 and a 200-day simple moving average of $146.29.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. As a group, equities research analysts anticipate that Boot Barn will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This trade 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. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Boot Barn

A number of large investors have recently made changes to their positions in BOOT. Mackenzie Financial Corp bought a new stake in Boot Barn during the 2nd quarter worth approximately $238,000. Creative Planning increased its position in shares of Boot Barn by 97.2% during the second quarter. Creative Planning now owns 5,956 shares of the company’s stock worth $768,000 after acquiring an additional 2,935 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Boot Barn by 58.4% during the third quarter. SG Americas Securities LLC now owns 6,967 shares of the company’s stock worth $1,165,000 after acquiring an additional 2,568 shares during the period. Handelsbanken Fonder AB lifted its position in Boot Barn by 34.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 9,300 shares of the company’s stock valued at $1,556,000 after acquiring an additional 2,400 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Boot Barn by 100.8% during the third quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares during the last quarter.

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.