Boot Barn (NYSE:BOOT) PT Raised to $127.00

Boot Barn (NYSE:BOOT) had its price objective boosted by investment analysts at BTIG Research from $100.00 to $127.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 17.82% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. UBS Group upgraded Boot Barn from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $108.00 in a report on Friday, January 5th. Williams Trading reaffirmed a “hold” rating on shares of Boot Barn in a research report on Tuesday, January 16th. B. Riley reduced their target price on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, February 1st. KeyCorp assumed coverage on shares of Boot Barn in a report on Wednesday, February 7th. They set a “sector weight” rating on the stock. Finally, Piper Sandler upped their price target on Boot Barn from $94.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.11.

Boot Barn Price Performance

Shares of Boot Barn stock opened at $107.79 on Monday. Boot Barn has a 1 year low of $64.33 and a 1 year high of $109.51. The firm has a market cap of $3.27 billion, a PE ratio of 20.07 and a beta of 2.19. The company has a 50 day simple moving average of $93.87 and a two-hundred day simple moving average of $82.01.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. The business had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. As a group, research analysts anticipate that Boot Barn will post 4.73 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of BOOT. Vanguard Group Inc. boosted its position in Boot Barn by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after buying an additional 35,925 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after purchasing an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP increased its stake in Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after buying an additional 649,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Boot Barn by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock valued at $83,425,000 after purchasing an additional 16,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Boot Barn by 35.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after acquiring an additional 182,130 shares in the last quarter.

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.