Boot Barn (NYSE:BOOT) Price Target Raised to $140.00 at Robert W. Baird

Boot Barn (NYSE:BOOT) had its price objective increased by Robert W. Baird from $132.00 to $140.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also commented on the company. BTIG Research increased their price target on Boot Barn from $125.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, June 5th. TD Cowen increased their target price on Boot Barn from $120.00 to $145.00 and gave the stock a buy rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price target on Boot Barn from $125.00 to $146.00 and gave the company an overweight rating in a report on Monday, July 22nd. Craig Hallum increased their price objective on shares of Boot Barn from $120.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Finally, Piper Sandler boosted their target price on shares of Boot Barn from $94.00 to $110.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $138.20.

Boot Barn Price Performance

Boot Barn stock opened at $133.88 on Thursday. Boot Barn has a 52-week low of $66.73 and a 52-week high of $137.48. The stock has a fifty day moving average price of $127.00 and a two-hundred day moving average price of $106.87. The firm has a market capitalization of $4.07 billion, a P/E ratio of 27.89 and a beta of 2.09.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. The business had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. On average, equities research analysts predict that Boot Barn will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the sale, the director now owns 4,546 shares in the company, valued at approximately $500,560.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Brenda I. Morris sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the transaction, the director now directly owns 4,546 shares in the company, valued at approximately $500,560.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Love sold 1,079 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total value of $118,916.59. Following the completion of the sale, the insider now directly owns 2,112 shares of the company’s stock, valued at $232,763.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,795 shares of company stock valued at $1,329,686. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Boot Barn by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock worth $210,638,000 after buying an additional 35,925 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Boot Barn by 186.6% during the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after purchasing an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Boot Barn by 43.8% in the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after purchasing an additional 649,021 shares during the period. Dimensional Fund Advisors LP increased its stake in Boot Barn by 1.5% during the 4th 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Boot Barn by 35.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock worth $53,733,000 after purchasing an additional 182,130 shares in the last quarter.

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.