Boot Barn Holdings, Inc. (NYSE:BOOT) Given Average Recommendation of “Moderate Buy” by Brokerages

Boot Barn Holdings, Inc. (NYSE:BOOT) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $123.36.

Several research firms have recently issued reports on BOOT. TD Cowen boosted their target price on Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Piper Sandler boosted their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Benchmark lifted their price target on shares of Boot Barn from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Finally, Craig Hallum raised their price target on Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th.

Boot Barn Price Performance

BOOT opened at $127.84 on Wednesday. Boot Barn has a fifty-two week low of $66.73 and a fifty-two week high of $134.61. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 26.63 and a beta of 2.16. The firm has a 50 day simple moving average of $115.20 and a 200 day simple moving average of $94.97.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. The company had revenue of $388.46 million for the quarter, compared to the consensus estimate of $383.67 million. As a group, analysts expect that Boot Barn will post 4.82 EPS for the current year.

Insider Activity at Boot Barn

In other news, insider John Hazen sold 3,563 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $113.21, for a total value of $403,367.23. Following the sale, the insider now owns 1,309 shares of the company’s stock, valued at $148,191.89. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the sale, the director now owns 4,546 shares in the company, valued at $500,560.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $113.21, for a total value of $403,367.23. Following the completion of the transaction, the insider now owns 1,309 shares of the company’s stock, valued at $148,191.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,795 shares of company stock valued at $1,329,686. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC increased its holdings in Boot Barn by 1,037.7% during the fourth quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after buying an additional 716 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Boot Barn in the 4th quarter valued at about $102,000. Quest Partners LLC bought a new stake in shares of Boot Barn in the 4th quarter valued at about $112,000. Neo Ivy Capital Management acquired a new stake in Boot Barn in the 4th quarter valued at about $165,000. Finally, SG Americas Securities LLC bought a new position in Boot Barn during the fourth quarter worth about $199,000.

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.