Boot Barn (NYSE:BOOT) Price Target Increased to $110.00 by Analysts at Piper Sandler

Boot Barn (NYSE:BOOT) had its target price lifted by Piper Sandler from $94.00 to $110.00 in a research note published on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also commented on BOOT. StockNews.com lowered shares of Boot Barn from a hold rating to a sell rating in a research report on Friday, January 19th. UBS Group raised shares of Boot Barn from a neutral rating to a buy rating and lifted their price target for the company from $75.00 to $108.00 in a research report on Friday, January 5th. BTIG Research dropped their price target on shares of Boot Barn from $102.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, February 1st. KeyCorp started coverage on shares of Boot Barn in a research note on Wednesday, February 7th. They issued a sector weight rating on the stock. Finally, Robert W. Baird raised their price objective on shares of Boot Barn from $70.00 to $90.00 and gave the stock a neutral rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $105.56.

Boot Barn Stock Performance

Shares of BOOT opened at $101.24 on Tuesday. The firm has a market cap of $3.07 billion, a PE ratio of 18.85 and a beta of 2.19. The firm’s 50 day moving average price is $91.33 and its 200 day moving average price is $80.67. Boot Barn has a twelve month low of $64.33 and a twelve month high of $104.91.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.01. The firm had revenue of $520.40 million for 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%. On average, sell-side analysts anticipate that Boot Barn will post 4.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boot Barn news, insider Laurie Marie Grijalva sold 5,861 shares of Boot Barn stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the sale, the insider now owns 5,861 shares in the company, valued at $529,306.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Laurie Marie Grijalva sold 5,861 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total value of $529,306.91. Following the sale, the insider now owns 5,861 shares in the company, valued at approximately $529,306.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gene Eddie Burt sold 1,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total transaction of $85,030.00. Following the completion of the sale, 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. Insiders have sold 26,339 shares of company stock worth $2,413,715 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of Boot Barn by 18.1% in the 1st quarter. JPMorgan Chase & Co. now owns 85,240 shares of the company’s stock valued at $8,080,000 after acquiring an additional 13,089 shares during the last quarter. Raymond James & Associates increased its stake in shares of Boot Barn by 632.3% in the 1st quarter. Raymond James & Associates now owns 13,467 shares of the company’s stock valued at $1,277,000 after acquiring an additional 11,628 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Boot Barn by 18.1% in the 1st quarter. American Century Companies Inc. now owns 7,079 shares of the company’s stock valued at $671,000 after acquiring an additional 1,083 shares during the last quarter. US Bancorp DE increased its stake in shares of Boot Barn by 3.7% in the 1st quarter. US Bancorp DE now owns 4,478 shares of the company’s stock valued at $425,000 after acquiring an additional 161 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Boot Barn by 7.1% in the 1st quarter. Citigroup Inc. now owns 29,162 shares of the company’s stock valued at $2,765,000 after acquiring an additional 1,933 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.