Boot Barn’s (BOOT) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Boot Barn (NYSE:BOOT) in a report released on Tuesday morning, Benzinga reports. Benchmark currently has a $192.00 target price on the stock.

A number of other brokerages have also issued reports on BOOT. UBS Group raised their price target on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Robert W. Baird boosted their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Citigroup upped their target price on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Williams Trading reaffirmed a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research report on Tuesday. Finally, Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their target price for the stock from $154.00 to $162.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Trading Down 2.1 %

NYSE:BOOT opened at $124.54 on Tuesday. The stock has a market capitalization of $3.79 billion, a P/E ratio of 25.94 and a beta of 2.12. The stock has a 50-day moving average price of $154.30 and a 200 day moving average price of $132.35. Boot Barn has a 12-month low of $66.73 and a 12-month high of $169.83.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. On average, research analysts predict that Boot Barn will post 5.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several large investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new position in Boot Barn in the 1st quarter valued at $695,000. Sei Investments Co. lifted its holdings in Boot Barn by 52.5% during the 1st quarter. Sei Investments Co. now owns 73,884 shares of the company’s stock worth $7,030,000 after buying an additional 25,434 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Boot Barn in the first quarter worth $32,779,000. Jennison Associates LLC increased its position in shares of Boot Barn by 19.6% during the first quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock worth $50,513,000 after acquiring an additional 86,969 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Boot Barn by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 131,658 shares of the company’s stock valued at $12,527,000 after acquiring an additional 14,980 shares in the last quarter.

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.