BTIG Research Issues Positive Forecast for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT) had its price target increased by equities researchers at BTIG Research from $165.00 to $185.00 in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 45.53% from the company’s current price.

Several other research firms have also recently issued reports on BOOT. JPMorgan Chase & Co. boosted their target price on Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Citigroup upped their price objective on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 19th. UBS Group raised their target price on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Craig Hallum cut shares of 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. Finally, Piper Sandler raised their price objective on shares of Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Boot Barn currently has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Stock Down 1.7 %

NYSE BOOT opened at $127.12 on Tuesday. The business’s 50-day moving average price is $154.30 and its 200 day moving average price is $132.35. The firm has a market cap of $3.86 billion, a P/E ratio of 26.48 and a beta of 2.12. Boot Barn has a 52-week low of $66.73 and a 52-week high of $169.83.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. During the same period in the previous year, the company posted $0.91 EPS. Boot Barn’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Boot Barn will post 5.29 earnings per share for the current year.

Institutional Trading of Boot Barn

Large investors have recently modified their holdings of the business. Capital Research Global Investors purchased a new stake in Boot Barn in the 1st quarter valued at approximately $32,779,000. Janus Henderson Group PLC raised its holdings in shares of Boot Barn by 1,212.4% in the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock worth $27,134,000 after acquiring an additional 263,444 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Boot Barn in the second quarter valued at $19,532,000. Westwood Holdings Group Inc. boosted its stake in shares of Boot Barn by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after acquiring an additional 124,060 shares during the last quarter. Finally, F M Investments LLC purchased a new stake in Boot Barn during the 2nd quarter worth about $14,888,000.

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.