Boot Barn’s (BOOT) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Boot Barn (NYSE:BOOT) in a research note released on Tuesday morning, Benzinga reports. They currently have a $179.00 price objective on the stock.

Several other analysts have also weighed in on BOOT. Robert W. Baird boosted their target price on shares of Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Citigroup lowered their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday. Williams Trading reiterated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday. UBS Group boosted their target price on shares of Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their target price for the company from $154.00 to $162.00 in a research note on Friday, October 25th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Trading Down 19.7 %

Shares of NYSE:BOOT opened at $129.38 on Tuesday. The company has a fifty day simple moving average of $154.55 and a 200 day simple moving average of $132.38. The firm has a market cap of $3.93 billion, a PE ratio of 26.95 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 issued its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The business had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. lifted its holdings in Boot Barn by 10.4% in the third quarter. James Investment Research Inc. now owns 12,274 shares of the company’s stock worth $2,053,000 after purchasing an additional 1,153 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Boot Barn in the third quarter worth about $408,000. GHP Investment Advisors Inc. acquired a new stake in Boot Barn in the third quarter worth about $25,000. Trust Point Inc. lifted its holdings in Boot Barn by 0.8% in the third quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after purchasing an additional 71 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Boot Barn in the third quarter worth about $335,000.

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.