Boot Barn (NYSE:BOOT) Coverage Initiated at Stephens

Stock analysts at Stephens initiated coverage on shares of Boot Barn (NYSE:BOOT) in a research note issued on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $100.00 price target on the stock. Stephens’ target price suggests a potential upside of 0.95% from the stock’s current price.

BOOT has been the subject of a number of other research reports. BTIG Research increased their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $181.00 price target (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. StockNews.com lowered Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Thursday, January 23rd. Finally, Craig Hallum set a $178.00 price target on Boot Barn in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.62.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $99.06 on Wednesday. The business’s 50 day moving average price is $115.87 and its 200-day moving average price is $139.19. Boot Barn has a 1 year low of $88.23 and a 1 year high of $176.64. The firm has a market capitalization of $3.03 billion, a PE ratio of 17.69, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, analysts expect that Boot Barn will post 5.82 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of Boot Barn by 1.4% during the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock worth $901,000 after purchasing an additional 82 shares during the period. Cetera Investment Advisers lifted its stake in Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock worth $1,242,000 after purchasing an additional 83 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock worth $208,000 after buying an additional 97 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Boot Barn by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after buying an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Boot Barn by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after buying an additional 100 shares during the period.

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.