Boot Barn (NYSE:BOOT) PT Raised to $160.00 at JPMorgan Chase & Co.

Boot Barn (NYSE:BOOT) had its price objective raised by JPMorgan Chase & Co. from $146.00 to $160.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 7.94% from the company’s current price.

Several other analysts have also issued reports on BOOT. Craig Hallum raised their price target on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. BTIG Research lifted their target price on Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler upped their price target on Boot Barn from $144.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Boot Barn in a report on Tuesday, August 6th. Finally, Citigroup upped their target price on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and a consensus target price of $141.10.

Boot Barn Stock Performance

NYSE BOOT opened at $148.23 on Tuesday. The stock has a 50-day simple moving average of $131.33 and a 200 day simple moving average of $115.49. Boot Barn has a twelve month low of $66.73 and a twelve month high of $162.16. The stock has a market capitalization of $4.52 billion, a PE ratio of 30.88 and a beta of 2.11.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. The company had revenue of $423.40 million during the quarter, compared to analyst estimates of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, equities research analysts forecast that Boot Barn will post 5.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Boot Barn by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock worth $210,638,000 after acquiring an additional 35,925 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after purchasing an additional 1,675,410 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Boot Barn by 43.8% during the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after purchasing an additional 649,021 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Boot Barn by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock valued at $83,425,000 after buying an additional 16,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Boot Barn by 35.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after buying an additional 182,130 shares during 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.