Boot Barn (NYSE:BOOT) PT Lowered to $98.00

Boot Barn (NYSE:BOOT – Get Rating) had its price objective cut by equities research analysts at Piper Sandler from $132.00 to $98.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 57.30% from the company’s current price.

Several other analysts have also commented on the company. StockNews.com started coverage on Boot Barn in a report on Thursday, March 31st. They set a “hold” rating on the stock. Craig Hallum dropped their target price on Boot Barn from $162.00 to $145.00 in a report on Wednesday, May 11th. Robert W. Baird dropped their price objective on Boot Barn from $115.00 to $90.00 and set a “maintains” rating on the stock in a report on Tuesday. Finally, UBS Group dropped their price objective on Boot Barn from $110.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned 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 $109.18.

Boot Barn Stock Performance

Shares of BOOT stock opened at $62.30 on Thursday. The stock’s 50-day simple moving average is $74.36 and its 200-day simple moving average is $86.07. The firm has a market capitalization of $1.86 billion, a PE ratio of 9.83, a P/E/G ratio of 0.52 and a beta of 2.75. Boot Barn has a fifty-two week low of $58.51 and a fifty-two week high of $134.50.

Boot Barn (NYSE:BOOT – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.32 by $0.15. The firm had revenue of $383.31 million for the quarter, compared to analyst estimates of $354.02 million. Boot Barn had a return on equity of 36.19% and a net margin of 12.93%. Boot Barn’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Sell-side analysts forecast that Boot Barn will post 6.42 earnings per share for the current year.

Insider Activity

In other news, insider John Hazen sold 1,087 shares of Boot Barn stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $66.69, for a total value of $72,492.03. Following the completion of the sale, the insider now directly owns 15,319 shares of the company’s stock, valued at $1,021,624.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Peter Starrett bought 1,200 shares of Boot Barn stock in a transaction dated Friday, May 27th. The stock was acquired at an average cost of $80.89 per share, with a total value of $97,068.00. Following the acquisition, the director now owns 10,799 shares of the company’s stock, valued at $873,531.11. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Hazen sold 1,087 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $66.69, for a total value of $72,492.03. Following the completion of the sale, the insider now directly owns 15,319 shares of the company’s stock, valued at $1,021,624.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,506 shares of company stock valued at $781,292. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Venture Visionary Partners LLC acquired a new position in Boot Barn during the second quarter worth $34,000. Signaturefd LLC purchased a new stake in shares of Boot Barn in the fourth quarter valued at $37,000. Optimum Investment Advisors purchased a new stake in shares of Boot Barn in the second quarter valued at $48,000. Lazard Asset Management LLC purchased a new position in Boot Barn during the fourth quarter worth about $68,000. Finally, Focused Wealth Management Inc purchased a new position in Boot Barn during the first quarter worth about $76,000.

About Boot Barn

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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.