Boot Barn (NYSE:BOOT) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Boot Barn (NYSE:BOOT) in a report published on Friday,Benzinga reports. Piper Sandler currently has a $181.00 target price on the stock, up from their prior target price of $179.00.

Several other equities analysts have also weighed in on the stock. UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and lifted their target price for the company from $155.00 to $210.00 in a report on Friday, January 10th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a research report on Wednesday, October 30th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and raised their target price for the company from $154.00 to $162.00 in a report on Friday, October 25th. BTIG Research upped their price target on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Benchmark reiterated a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $174.77.

Boot Barn Stock Performance

Boot Barn stock opened at $160.70 on Friday. Boot Barn has a 1 year low of $71.54 and a 1 year high of $176.64. The firm has a 50 day moving average price of $153.42 and a 200 day moving average price of $146.51. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.57 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. Sell-side analysts predict that Boot Barn will post 5.8 EPS for the current year.

Insider Transactions at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new position in shares of Boot Barn during the third quarter valued at $25,000. Blue Trust Inc. boosted its stake in Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after purchasing an additional 143 shares during the period. GAMMA Investing LLC grew its position in Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $89,000 after purchasing an additional 268 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Boot Barn in the third quarter valued at approximately $92,000. Finally, R Squared Ltd bought a new stake in shares of Boot Barn during the fourth quarter valued at approximately $102,000.

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.