Boot Barn (NYSE:BOOT) Stock Rating Upgraded by UBS Group

Boot Barn (NYSE:BOOT) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports. The brokerage currently has a $210.00 price objective on the stock, up from their previous price objective of $155.00. UBS Group’s price objective points to a potential upside of 31.26% from the stock’s current price.

BOOT has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Citigroup decreased their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, BTIG Research boosted their target price on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.75.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $159.99 on Friday. The company has a 50 day simple moving average of $143.92 and a 200 day simple moving average of $142.67. Boot Barn has a 1 year low of $69.35 and a 1 year high of $169.83. The firm has a market cap of $4.88 billion, a PE 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, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. Boot Barn’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, research analysts anticipate that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BOOT. GHP Investment Advisors Inc. bought a new position in Boot Barn in the 3rd quarter valued at about $25,000. Canada Pension Plan Investment Board purchased a new stake in shares of Boot Barn in the second quarter worth approximately $64,000. GAMMA Investing LLC lifted its holdings in shares of Boot Barn by 100.8% in the third quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Boot Barn during the third quarter valued at approximately $92,000. Finally, KBC Group NV grew its holdings in Boot Barn by 23.3% during the third quarter. KBC Group NV now owns 951 shares of the company’s stock worth $159,000 after buying an additional 180 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.