Boot Barn (NYSE:BOOT) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Boot Barn (NYSE:BOOT) from a neutral rating to an outperform rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $167.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on BOOT. Williams Trading restated a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research note on Tuesday. BTIG Research lifted their price target on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a report on Tuesday. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. Finally, UBS Group raised their target price on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Price Performance

BOOT opened at $125.47 on Wednesday. The stock has a market capitalization of $3.83 billion, a PE ratio of 25.19 and a beta of 2.12. The firm’s fifty day moving average price is $153.67 and its 200 day moving average price is $132.48. Boot Barn has a 12-month low of $67.53 and a 12-month high of $169.83.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. During the same quarter last year, the firm earned $0.91 EPS. The business’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts forecast that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. Portside Wealth Group LLC bought a new position in Boot Barn in the 3rd quarter valued at $383,000. James Investment Research Inc. boosted its holdings in Boot Barn by 10.4% in the third quarter. James Investment Research Inc. now owns 12,274 shares of the company’s stock valued at $2,053,000 after acquiring an additional 1,153 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Boot Barn in the third quarter worth about $408,000. GHP Investment Advisors Inc. acquired a new stake in shares of Boot Barn during the 3rd quarter worth approximately $25,000. Finally, Trust Point Inc. grew its holdings in Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after acquiring an additional 71 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.