Boot Barn (NYSE:BOOT) PT Raised to $165.00 at BTIG Research

Boot Barn (NYSE:BOOT) had its target price increased by research analysts at BTIG Research from $150.00 to $165.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 11.31% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Piper Sandler lifted their price objective on Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $140.00 price objective on shares of Boot Barn in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $125.00 to $146.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. TD Cowen lifted their price objective on Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Finally, UBS Group lifted their price objective on Boot Barn from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Boot Barn currently has a consensus rating of “Moderate Buy” and an average price target of $141.10.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $148.23 on Tuesday. The business’s 50 day moving average price is $131.33 and its 200-day moving average price is $115.49. The firm has a market capitalization of $4.52 billion, a PE ratio of 30.88 and a beta of 2.11. Boot Barn has a 1 year low of $66.73 and a 1 year high of $162.16.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $423.40 million for 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 business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. As a group, analysts expect that Boot Barn will post 5.2 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently modified their holdings of BOOT. Wellington Management Group LLP raised its holdings in shares of Boot Barn by 186.6% in the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after buying an additional 1,675,410 shares during the period. Wasatch Advisors LP raised its holdings in shares of Boot Barn by 43.8% in the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after buying an additional 649,021 shares during the period. Westwood Holdings Group Inc. acquired a new position in Boot Barn during the 4th quarter worth $32,361,000. Capital Research Global Investors acquired a new position in Boot Barn during the 1st quarter worth $32,779,000. Finally, Janus Henderson Group PLC grew its stake in Boot Barn by 1,212.4% during the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock worth $27,134,000 after purchasing an additional 263,444 shares in 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.