Boot Barn (NYSE:BOOT) Price Target Cut to $178.00 by Analysts at Citigroup

Boot Barn (NYSE:BOOT) had its target price decreased by Citigroup from $194.00 to $178.00 in a report released on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

BOOT has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler lifted their price objective on Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird increased their target price on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Williams Trading restated a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research report on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research report on Tuesday. One investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Trading Down 19.7 %

NYSE BOOT opened at $129.38 on Tuesday. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 26.95 and a beta of 2.12. The company’s 50 day moving average is $154.55 and its two-hundred day moving average is $132.38.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The firm had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. During the same period last year, the firm earned $0.91 EPS. The company’s revenue was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Boot Barn will post 5.29 EPS for the current year.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new stake in shares of Boot Barn during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after buying an additional 140 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn during the second quarter worth approximately $64,000. USA Financial Formulas purchased a new stake in shares of Boot Barn in the third quarter valued at approximately $92,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Boot Barn during the 2nd quarter worth $84,000.

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.