Piper Sandler Increases Boot Barn (NYSE:BOOT) Price Target to $179.00

Boot Barn (NYSE:BOOT) had its price target upped by Piper Sandler from $147.00 to $179.00 in a research note issued to investors on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other brokerages also recently commented on BOOT. UBS Group increased their price objective on shares of Boot Barn from $125.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. BTIG Research raised their price target on shares of Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Robert W. Baird boosted their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Citigroup increased 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. Finally, JPMorgan Chase & Co. lifted their target price on Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Boot Barn Trading Down 0.4 %

Shares of BOOT stock opened at $166.38 on Monday. The company’s fifty day moving average price is $151.00 and its 200-day moving average price is $128.66. The stock has a market cap of $5.06 billion, a PE ratio of 34.66 and a beta of 2.12. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data 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. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The business had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $415.04 million. During the same quarter in the prior year, the company earned $1.11 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Boot Barn will post 5.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Boot Barn in the 2nd quarter worth $64,000. 1620 Investment Advisors Inc. purchased a new position in Boot Barn during the second quarter valued at $84,000. USA Financial Formulas bought a new stake in Boot Barn during the third quarter valued at about $92,000. Finally, First Horizon Advisors Inc. increased its position in Boot Barn by 11.2% in the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after buying an additional 94 shares in 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.