UBS Group Lowers Boot Barn (NYSE:BOOT) Price Target to $200.00

Boot Barn (NYSE:BOOT) had its target price decreased by equities researchers at UBS Group from $210.00 to $200.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 32.21% from the stock’s previous close.

Other research analysts have also issued reports about the company. Piper Sandler reissued an “overweight” rating and set a $181.00 price target (up from $179.00) on shares of Boot Barn in a research report on Friday. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target for the company in a research note on Wednesday, October 30th. Bank of America increased their price objective on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Williams Trading reissued a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boot Barn has a consensus rating of “Buy” and an average target price of $181.58.

Boot Barn Stock Down 6.0 %

BOOT stock traded down $9.58 during trading on Monday, reaching $151.27. 1,082,829 shares of the company’s stock were exchanged, compared to its average volume of 929,825. Boot Barn has a 1-year low of $80.33 and a 1-year high of $176.64. The company’s fifty day moving average price is $153.42 and its 200-day moving average price is $146.79. The firm has a market cap of $4.62 billion, a PE ratio of 27.09, a P/E/G ratio of 1.45 and a beta of 2.10.

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 analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, sell-side analysts expect that Boot Barn will post 5.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Boot Barn

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

Institutional Trading of Boot Barn

Institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in shares of Boot Barn during the 3rd quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after buying an additional 143 shares during the period. GAMMA Investing LLC lifted its position in shares of Boot Barn by 100.8% during the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $89,000 after buying an additional 268 shares during the period. USA Financial Formulas bought a new position in shares of Boot Barn during the 3rd quarter worth approximately $92,000. Finally, R Squared Ltd bought a new position in shares of Boot Barn during the 4th quarter worth approximately $102,000.

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.