Boot Barn (NYSE:BOOT) Price Target Raised to $181.00 at JPMorgan Chase & Co.

Boot Barn (NYSE:BOOT) had its target price hoisted by JPMorgan Chase & Co. from $160.00 to $181.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on BOOT. Robert W. Baird upped their target price on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Piper Sandler upped their price objective on shares of Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, October 14th. BTIG Research upped their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday. Benchmark increased their price objective on Boot Barn from $140.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price target on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Down 19.7 %

Shares of NYSE BOOT opened at $129.38 on Tuesday. The firm has a market cap of $3.93 billion, a PE ratio of 26.95 and a beta of 2.12. The company’s fifty day simple moving average is $154.55 and its 200 day simple moving average is $132.38. 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 earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The business had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Boot Barn will post 5.29 earnings per share for the current year.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds have recently modified their holdings of BOOT. UniSuper Management Pty Ltd purchased a new position in shares of Boot Barn during the first quarter valued at about $695,000. Sei Investments Co. lifted its stake in shares of Boot Barn by 52.5% in the first quarter. Sei Investments Co. now owns 73,884 shares of the company’s stock worth $7,030,000 after buying an additional 25,434 shares in the last quarter. Capital Research Global Investors purchased a new position in shares of Boot Barn during the first quarter valued at approximately $32,779,000. Jennison Associates LLC raised its holdings in shares of Boot Barn by 19.6% during the first quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock valued at $50,513,000 after purchasing an additional 86,969 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Boot Barn by 12.8% during the first quarter. Russell Investments Group Ltd. now owns 131,658 shares of the company’s stock valued at $12,527,000 after purchasing an additional 14,980 shares during the last quarter.

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.