Boot Barn (NYSE:BOOT) Stock Rating Upgraded by Robert W. Baird

Boot Barn (NYSE:BOOT) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Wednesday, MarketBeat.com reports. The firm presently has a $167.00 price target on the stock. Robert W. Baird’s price objective would suggest a potential upside of 34.10% from the company’s previous close.

Several other analysts have also recently issued reports on BOOT. Benchmark reiterated a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup lowered their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday. BTIG Research raised their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group raised their price objective on shares of Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Price Performance

NYSE BOOT opened at $124.54 on Wednesday. Boot Barn has a 1 year low of $66.73 and a 1 year high of $169.83. The stock has a market capitalization of $3.79 billion, a PE ratio of 25.94 and a beta of 2.12. The company’s 50 day simple moving average is $154.30 and its two-hundred day simple moving average is $132.35.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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 business had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, research analysts anticipate that Boot Barn will post 5.29 EPS for the current year.

Hedge Funds Weigh In On Boot Barn

A number of large investors have recently added to or reduced their stakes in BOOT. GHP Investment Advisors Inc. purchased a new position in Boot Barn in the 3rd quarter worth $25,000. GAMMA Investing LLC grew its holdings in Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Boot Barn in the 2nd quarter worth $64,000. 1620 Investment Advisors Inc. bought a new stake in Boot Barn in the 2nd quarter worth $84,000. Finally, USA Financial Formulas bought a new stake in Boot Barn in the 3rd quarter worth $92,000.

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.