Boot Barn Holdings, Inc. (NYSE:BOOT) Receives $164.55 Average Target Price from Brokerages

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

BOOT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BTIG Research raised their target price on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price target for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Citigroup lowered their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $147.75 on Wednesday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 29.67 and a beta of 2.14. The firm has a fifty day moving average price of $144.42 and a 200 day moving average price of $140.07. Boot Barn has a fifty-two week low of $68.37 and a fifty-two week high of $169.83.

Boot Barn (NYSE:BOOT) last released 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 8.73% and a return on equity of 15.89%. The business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 13.7% on a year-over-year basis. As a group, research analysts predict that Boot Barn will post 5.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of Boot Barn by 68.1% during the second quarter. SG Americas Securities LLC now owns 4,399 shares of the company’s stock valued at $567,000 after purchasing an additional 1,782 shares during the period. Raymond James & Associates boosted its position in Boot Barn by 1.8% in the 2nd quarter. Raymond James & Associates now owns 49,263 shares of the company’s stock valued at $6,351,000 after buying an additional 875 shares during the period. Nisa Investment Advisors LLC grew its stake in Boot Barn by 9.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,461 shares of the company’s stock worth $188,000 after acquiring an additional 126 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of 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 acquiring an additional 94 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boot Barn during the second quarter valued at approximately $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.