Boot Barn’s (BOOT) Buy Rating Reaffirmed at Benchmark

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports. They currently have a $192.00 target price on the stock. Benchmark’s price objective points to a potential upside of 51.04% from the company’s current price.

Other research analysts also recently issued reports about the company. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and lifted their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday. Williams Trading reissued a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research report on Tuesday. UBS Group lifted 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. Finally, Robert W. Baird upped their price target on Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Price Performance

NYSE:BOOT opened at $127.12 on Tuesday. The firm has a market cap of $3.86 billion, a PE ratio of 26.48 and a beta of 2.12. The company has a 50-day moving average of $154.30 and a 200 day moving average of $132.35. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last announced 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 firm had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. Sell-side analysts anticipate that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Trading of Boot Barn

Several large investors have recently added to or reduced their stakes in the company. James Investment Research Inc. raised its stake in shares of 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 last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Boot Barn in the 3rd quarter worth approximately $408,000. GHP Investment Advisors Inc. purchased a new position in Boot Barn during the 3rd quarter worth approximately $25,000. Trust Point Inc. lifted its stake in Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after acquiring an additional 71 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Boot Barn in the 3rd quarter valued at $335,000.

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.