Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Rating of “Buy” from Analysts

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have been given an average rating of “Buy” by the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $181.92.

Several equities analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price objective (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Robert W. Baird decreased their price objective on shares of Boot Barn from $190.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. BTIG Research raised their price target on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Bank of America raised their price target on shares of Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Craig Hallum set a $178.00 price target on shares of Boot Barn in a research note on Friday, January 31st.

Insiders Place Their Bets

In other Boot Barn news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Boot Barn

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Signaturefd LLC increased its position in shares of Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 111 shares during the last quarter. Assetmark Inc. increased its position in shares of Boot Barn by 45.2% during the fourth quarter. Assetmark Inc. now owns 363 shares of the company’s stock valued at $55,000 after acquiring an additional 113 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Boot Barn during the fourth quarter valued at about $102,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Boot Barn by 212.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock valued at $115,000 after acquiring an additional 509 shares during the last quarter.

Boot Barn Stock Performance

BOOT stock opened at $108.61 on Monday. The firm has a market cap of $3.32 billion, a PE ratio of 19.39, a P/E/G ratio of 1.17 and a beta of 2.07. Boot Barn has a one year low of $82.67 and a one year high of $176.64. The firm’s fifty day moving average is $145.09 and its 200 day moving average is $147.07.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. Research analysts predict that Boot Barn will post 5.82 earnings per share for the current fiscal year.

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.