Boot Barn Holdings, Inc. (NYSE:BOOT) Receives $103.78 Consensus Target Price from Brokerages

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have received an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $103.78.

BOOT has been the subject of several analyst reports. B. Riley decreased their price target on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Williams Trading restated a “hold” rating on shares of Boot Barn in a report on Tuesday, January 16th. Piper Sandler cut their price objective on shares of Boot Barn from $99.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. BTIG Research cut their price objective on shares of Boot Barn from $102.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Finally, UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $108.00 in a report on Friday, January 5th.

Boot Barn Stock Performance

BOOT stock opened at $99.18 on Friday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 18.47 and a beta of 2.19. The firm has a 50-day simple moving average of $90.60 and a two-hundred day simple moving average of $80.42. Boot Barn has a one year low of $64.33 and a one year high of $104.91.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.80 by $0.01. The business had revenue of $520.40 million during the quarter, compared to analyst estimates of $520.34 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. As a group, equities analysts predict that Boot Barn will post 4.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the transaction, the chief executive officer now owns 46,273 shares in the company, valued at approximately $4,274,699.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the transaction, the chief executive officer now owns 46,273 shares in the company, valued at approximately $4,274,699.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gene Eddie Burt sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total value of $85,030.00. Following the completion of the transaction, the director now owns 1,542 shares in the company, valued at approximately $131,116.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,339 shares of company stock worth $2,413,715. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOOT. State of Wyoming increased its stake in shares of Boot Barn by 57.3% in the 2nd quarter. State of Wyoming now owns 552 shares of the company’s stock worth $47,000 after acquiring an additional 201 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Boot Barn by 1,037.7% in the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after acquiring an additional 716 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Boot Barn in the 1st quarter worth $68,000. Principal Securities Inc. acquired a new stake in shares of Boot Barn in the 4th quarter worth $102,000. Finally, Lazard Asset Management LLC increased its position in shares of Boot Barn by 75.3% during the 4th quarter. Lazard Asset Management LLC now owns 1,686 shares of the company’s stock worth $105,000 after purchasing an additional 724 shares during the last quarter.

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.