Boot Barn (NYSE:BOOT) Price Target Raised to $188.00 at JPMorgan Chase & Co.

Boot Barn (NYSE:BOOT) had its price target boosted by JPMorgan Chase & Co. from $181.00 to $188.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also weighed in on BOOT. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Robert W. Baird upgraded shares of 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. BTIG Research upped their price objective on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Benchmark reissued a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Finally, Bank of America began coverage on Boot Barn in a research note on Tuesday. They issued a “buy” rating and a $187.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Boot Barn Stock Performance

NYSE:BOOT opened at $159.99 on Wednesday. Boot Barn has a 52 week low of $69.35 and a 52 week high of $169.83. The firm has a 50-day moving average price of $143.21 and a two-hundred day moving average price of $142.55. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 32.13 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. Boot Barn’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. As a group, sell-side analysts forecast that Boot Barn will post 5.48 earnings per share for the current year.

Insider Transactions at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. The trade was a 61.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Several large investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Boot Barn by 4.4% in the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after acquiring an additional 51,356 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after purchasing an additional 6,369 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Boot Barn by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock valued at $82,895,000 after purchasing an additional 1,834 shares in the last quarter. Franklin Resources Inc. lifted its position in Boot Barn by 1.0% during the third quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock valued at $68,004,000 after purchasing an additional 4,226 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Boot Barn by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock worth $58,999,000 after buying an additional 6,335 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.