Boot Barn (NYSE:BOOT) Rating Reiterated by Benchmark

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $140.00 target price on the stock. Benchmark’s price target suggests a potential downside of 6.95% from the company’s current price.

Several other brokerages have also weighed in on BOOT. Citigroup increased their target price on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group increased their price target on Boot Barn from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Piper Sandler increased their price target on Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. TD Cowen increased their price target on Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, Robert W. Baird increased their price target on Boot Barn from $132.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.10.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $150.45 on Wednesday. Boot Barn has a 1-year low of $66.73 and a 1-year high of $162.16. The business’s fifty day moving average price is $131.79 and its two-hundred day moving average price is $115.74. The firm has a market capitalization of $4.57 billion, a PE ratio of 31.34 and a beta of 2.11.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BOOT. Charles Schwab Investment Management Inc. grew its holdings in Boot Barn by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 320,258 shares of the company’s stock worth $24,583,000 after acquiring an additional 13,168 shares during the period. Principal Securities Inc. purchased a new position in Boot Barn in the 4th quarter worth about $102,000. BNP Paribas Financial Markets increased its stake in Boot Barn by 79.4% in the 4th quarter. BNP Paribas Financial Markets now owns 50,264 shares of the company’s stock worth $3,858,000 after purchasing an additional 22,250 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Boot Barn by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock worth $83,425,000 after purchasing an additional 16,308 shares in the last quarter. Finally, Long Road Investment Counsel LLC purchased a new position in Boot Barn in the 4th quarter worth about $425,000.

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.