Boot Barn (NYSE:BOOT) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Boot Barn (NYSE:BOOT) from a sector weight rating to an overweight rating in a research report released on Thursday, Marketbeat reports. They currently have $190.00 price target on the stock.

Several other analysts also recently issued reports on BOOT. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. BTIG Research boosted their target price on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Bank of America raised their target price on shares of Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Benchmark reiterated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, UBS Group upgraded Boot Barn from a “neutral” rating to a “buy” rating and raised their price objective for the company from $155.00 to $210.00 in a research report on Friday, January 10th. 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. Based on data from MarketBeat.com, Boot Barn has a consensus rating of “Buy” and a consensus price target of $173.00.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $168.24 on Thursday. The company has a market capitalization of $5.13 billion, a P/E ratio of 33.78, a P/E/G ratio of 1.47 and a beta of 2.10. Boot Barn has a 1-year low of $71.54 and a 1-year high of $169.83. The firm’s 50 day simple moving average is $149.18 and its two-hundred day simple moving average is $144.71.

Boot Barn (NYSE:BOOT) last released its earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. During the same quarter in the previous year, the company earned $0.91 EPS. Boot Barn’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Boot Barn will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at Boot Barn

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

Institutional Trading of Boot Barn

A number of large investors have recently modified their holdings of BOOT. Artemis Investment Management LLP bought a new stake in Boot Barn during the 4th quarter valued at $36,361,000. Marshall Wace LLP purchased a new position in shares of Boot Barn during the second quarter valued at $19,532,000. State Street Corp lifted its stake in Boot Barn by 4.4% in the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock worth $202,132,000 after acquiring an additional 51,356 shares during the period. JPMorgan Chase & Co. grew its holdings in Boot Barn by 56.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after acquiring an additional 51,032 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Boot Barn during the 3rd quarter valued at about $5,931,000.

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.