Boot Barn (NYSE:BOOT) Raised to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Boot Barn (NYSE:BOOT) from a neutral rating to an outperform rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have $167.00 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. Benchmark reiterated a “buy” rating and set a $192.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Williams Trading reiterated a “buy” rating and set a $173.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and increased their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, BTIG Research increased their price target on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Performance

Shares of BOOT opened at $125.47 on Wednesday. The stock has a market cap of $3.83 billion, a PE ratio of 25.19 and a beta of 2.12. Boot Barn has a fifty-two week low of $67.53 and a fifty-two week high of $169.83. The firm’s 50-day simple moving average is $153.67 and its two-hundred day simple moving average is $132.48.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. Equities research analysts predict that Boot Barn will post 5.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOOT. Capital Research Global Investors purchased a new position in shares of Boot Barn during the 1st quarter worth $32,779,000. Janus Henderson Group PLC lifted its stake in shares of Boot Barn by 1,212.4% during the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after buying an additional 263,444 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Boot Barn during the 2nd quarter valued at $19,532,000. Westwood Holdings Group Inc. lifted its stake in shares of Boot Barn by 29.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after buying an additional 124,060 shares in the last quarter. Finally, F M Investments LLC purchased a new position in shares of Boot Barn during the 2nd quarter valued at $14,888,000.

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.