Boot Barn (NYSE:BOOT) Price Target Raised to $188.00

Boot Barn (NYSE:BOOT) had its price objective raised by JPMorgan Chase & Co. from $181.00 to $188.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on BOOT. BTIG Research lifted their price target on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. 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 research report on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and boosted their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. Finally, Citigroup reduced their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boot Barn has an average rating of “Moderate Buy” and a consensus price target of $170.75.

Boot Barn Stock Down 2.7 %

Shares of NYSE BOOT opened at $155.95 on Wednesday. Boot Barn has a 52-week low of $69.35 and a 52-week high of $169.83. The stock has a market capitalization of $4.76 billion, a PE ratio of 31.32 and a beta of 2.10. The firm has a fifty day moving average of $143.92 and a 200-day moving average of $142.67.

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 net margin of 8.73% and a return on equity of 15.89%. The business had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities research analysts expect that Boot Barn will post 5.48 EPS for the current fiscal year.

Insider Activity

In other Boot Barn news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at $602,282.26. This trade represents a 61.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tilia Fiduciary Partners Inc. raised its position in shares of Boot Barn by 1.7% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 9,798 shares of the company’s stock valued at $1,488,000 after purchasing an additional 167 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Boot Barn by 18,573.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,939 shares of the company’s stock worth $2,268,000 after acquiring an additional 14,859 shares during the period. JPMorgan Chase & Co. increased its holdings in Boot Barn by 56.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock valued at $23,638,000 after buying an additional 51,032 shares during the period. Franklin Resources Inc. raised its stake in shares of Boot Barn by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock valued at $68,004,000 after buying an additional 4,226 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in shares of Boot Barn during the 3rd quarter worth about $212,000.

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.