Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have been given an average rating of “Moderate Buy” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $164.55.

Several analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and upped their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. BTIG Research upped their price target on Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday.

Hedge Funds Weigh In On Boot Barn

Several hedge funds and other institutional investors have recently modified their holdings of BOOT. Vanguard Group Inc. lifted its holdings in shares of Boot Barn by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after buying an additional 35,925 shares during the period. Park Avenue Securities LLC bought a new position in shares of Boot Barn during the 1st quarter valued at $222,000. Congress Wealth Management LLC DE lifted its holdings in shares of Boot Barn by 6.8% during the 1st quarter. Congress Wealth Management LLC DE now owns 81,304 shares of the company’s stock valued at $7,736,000 after buying an additional 5,171 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in shares of Boot Barn by 1.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,342 shares of the company’s stock valued at $889,000 after buying an additional 154 shares during the period. Finally, Norden Group LLC bought a new position in Boot Barn in the 1st quarter worth $442,000.

Boot Barn Stock Performance

BOOT stock opened at $125.47 on Tuesday. Boot Barn has a fifty-two week low of $67.53 and a fifty-two week high of $169.83. The business’s 50 day moving average price is $153.67 and its two-hundred day moving average price is $132.48. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.19 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. Sell-side analysts forecast that Boot Barn will post 5.48 earnings per share for the current year.

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.