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

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $181.92.

BOOT has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Piper Sandler reissued an “overweight” rating and issued a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a research report on Friday, January 31st. Bank of America upped their price objective on shares of Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. BTIG Research lifted their target price on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their price target on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in shares of Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 111 shares during the period. Blue Trust Inc. increased its holdings in Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Assetmark Inc. raised its position in Boot Barn by 45.2% in the fourth quarter. Assetmark Inc. now owns 363 shares of the company’s stock valued at $55,000 after purchasing an additional 113 shares during the period. R Squared Ltd acquired a new position in shares of Boot Barn during the fourth quarter worth about $102,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Boot Barn by 212.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock worth $115,000 after buying an additional 509 shares during the period.

Boot Barn Price Performance

BOOT stock opened at $107.33 on Friday. Boot Barn has a 12 month low of $91.56 and a 12 month high of $176.64. The firm has a market capitalization of $3.28 billion, a PE ratio of 19.17, a P/E/G ratio of 1.17 and a beta of 2.07. The company’s 50 day simple moving average is $131.03 and its 200-day simple moving average is $143.79.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, sell-side analysts anticipate that Boot Barn will post 5.82 earnings per share for the current year.

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.