Boot Barn (NYSE:BOOT) PT Raised to $75.00 at UBS Group

Posted by Defense World Staff on Jan 21st, 2023

Boot Barn (NYSE:BOOT – Get Rating) had its target price upped by analysts at UBS Group from $69.00 to $75.00 in a note issued to investors on Thursday, The Fly reports. UBS Group’s price objective points to a potential upside of 2.81% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com assumed coverage on Boot Barn in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Citigroup cut their target price on Boot Barn from $99.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Robert W. Baird cut their target price on Boot Barn from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. TheStreet downgraded Boot Barn from a “b-” rating to a “c+” rating in a research report on Monday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on Boot Barn from $92.00 to $94.00 in a research report on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.89.

Boot Barn Trading Down 1.0 %

Shares of NYSE BOOT opened at $72.95 on Thursday. The stock has a 50 day simple moving average of $64.55 and a 200-day simple moving average of $64.12. The company has a market cap of $2.17 billion, a PE ratio of 11.98, a P/E/G ratio of 1.24 and a beta of 2.25. Boot Barn has a 12-month low of $50.20 and a 12-month high of $105.66.

Boot Barn (NYSE:BOOT – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $351.55 million during the quarter, compared to the consensus estimate of $343.00 million. Boot Barn had a return on equity of 29.71% and a net margin of 11.68%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Sell-side analysts forecast that Boot Barn will post 5.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO James M. Watkins acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of $52.34 per share, for a total transaction of $130,850.00. Following the transaction, the chief financial officer now owns 11,730 shares of the company’s stock, valued at $613,948.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently modified their holdings of the stock. Venture Visionary Partners LLC acquired a new stake in shares of Boot Barn during the 2nd quarter valued at $34,000. First Horizon Advisors Inc. raised its stake in Boot Barn by 408.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 828 shares of the company’s stock valued at $55,000 after purchasing an additional 665 shares during the period. Lazard Asset Management LLC raised its stake in Boot Barn by 72.7% during the 2nd quarter. Lazard Asset Management LLC now owns 962 shares of the company’s stock valued at $66,000 after purchasing an additional 405 shares during the period. FourThought Financial LLC raised its stake in Boot Barn by 55.9% during the 3rd quarter. FourThought Financial LLC now owns 1,316 shares of the company’s stock valued at $77,000 after purchasing an additional 472 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Boot Barn during the 2nd quarter valued at $105,000.

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.