UBS Group Increases Boot Barn (NYSE:BOOT) Price Target to $165.00

Boot Barn (NYSE:BOOT) had its price target hoisted by analysts at UBS Group from $127.00 to $165.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential downside of 0.83% from the stock’s current price.

A number of other research analysts have also recently commented on BOOT. JPMorgan Chase & Co. upped their price objective on Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Robert W. Baird lifted their price objective on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Piper Sandler boosted their price objective on Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a report on Monday. BTIG Research raised their target price on Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup increased their price target on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One investment 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’s stock. According to data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Boot Barn Trading Down 0.4 %

BOOT stock opened at $166.38 on Wednesday. The firm has a 50-day moving average of $151.00 and a two-hundred day moving average of $128.66. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 34.66 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.08 by $0.18. The firm had revenue of $423.40 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. As a group, equities analysts forecast that Boot Barn will post 5.29 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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 purchasing an additional 140 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Boot Barn during the 2nd quarter worth about $64,000. 1620 Investment Advisors Inc. purchased a new position in shares of Boot Barn in the 2nd quarter valued at about $84,000. USA Financial Formulas acquired a new stake in shares of Boot Barn during the 3rd quarter worth about $92,000. Finally, First Horizon Advisors Inc. lifted its stake in Boot Barn by 11.2% during the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after purchasing an additional 94 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.