Boot Barn (NYSE:BOOT) Price Target Raised to $165.00

Boot Barn (NYSE:BOOT) had its price objective raised by BTIG Research from $150.00 to $165.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Benchmark reaffirmed a buy rating and set a $140.00 price objective on shares of Boot Barn in a report on Tuesday, August 6th. Piper Sandler raised their price target on Boot Barn from $144.00 to $147.00 and gave the company an overweight rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on Boot Barn from $125.00 to $146.00 and gave the stock an overweight rating in a report on Monday, July 22nd. Citigroup raised their target price on Boot Barn from $122.00 to $154.00 and gave the company a buy rating in a research note on Friday, July 19th. Finally, UBS Group upped their price target on shares of Boot Barn from $125.00 to $127.00 and gave the stock a neutral rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $141.10.

Boot Barn Price Performance

Shares of BOOT stock opened at $154.55 on Tuesday. The stock’s fifty day simple moving average is $132.32 and its 200 day simple moving average is $116.19. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 32.20 and a beta of 2.11. Boot Barn has a one year low of $66.73 and a one year high of $162.16.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.08 by $0.18. The business had revenue of $423.40 million for the quarter, compared to analyst estimates of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. Boot Barn’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, research analysts anticipate that Boot Barn will post 5.3 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently made changes to their positions in BOOT. Natixis Advisors L.P. raised its position in shares of Boot Barn by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 32,608 shares of the company’s stock worth $2,502,000 after acquiring an additional 149 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Boot Barn by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 320,258 shares of the company’s stock worth $24,583,000 after purchasing an additional 13,168 shares during the period. Principal Securities Inc. acquired a new stake in shares of Boot Barn during the fourth quarter worth $102,000. BNP Paribas Financial Markets grew its stake in shares of Boot Barn by 79.4% during the fourth quarter. BNP Paribas Financial Markets now owns 50,264 shares of the company’s stock worth $3,858,000 after purchasing an additional 22,250 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Boot Barn by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock worth $83,425,000 after purchasing an additional 16,308 shares during the period.

About Boot Barn

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.