Robert W. Baird Increases Boot Barn (NYSE:BOOT) Price Target to $167.00

Boot Barn (NYSE:BOOT) had its target price lifted by equities research analysts at Robert W. Baird from $140.00 to $167.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential downside of 0.17% from the company’s previous close.

A number of other equities analysts have also commented on BOOT. TD Cowen increased their price target on Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Citigroup upped their price target on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Craig Hallum upped their target price on shares of Boot Barn from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Finally, Piper Sandler lifted their price target on shares of Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.80.

Boot Barn Price Performance

BOOT stock opened at $167.28 on Tuesday. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.05. The business has a 50 day simple moving average of $140.82 and a two-hundred day simple moving average of $122.33. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 34.85 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 analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $415.04 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. Boot Barn’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. Sell-side analysts anticipate that Boot Barn will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently added to or reduced their stakes in BOOT. US Bancorp DE boosted its holdings in shares of Boot Barn by 39.9% in the 4th quarter. US Bancorp DE now owns 12,232 shares of the company’s stock valued at $939,000 after buying an additional 3,487 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Boot Barn by 25.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 375,613 shares of the company’s stock worth $28,832,000 after purchasing an additional 75,432 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Boot Barn in the fourth quarter worth $526,000. Westwood Holdings Group Inc. acquired a new position in shares of Boot Barn during the fourth quarter worth $32,361,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Boot Barn by 18.1% during the 4th quarter. Verition Fund Management LLC now owns 71,156 shares of the company’s stock valued at $5,462,000 after purchasing an additional 10,900 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.