Boot Barn (NYSE:BOOT) Price Target Raised to $181.00

Boot Barn (NYSE:BOOT) had its target price increased by JPMorgan Chase & Co. from $160.00 to $181.00 in a report released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also issued reports on BOOT. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. Robert W. Baird boosted their target price on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Piper Sandler raised their price target on Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. BTIG Research boosted their price objective on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, UBS Group increased their target price on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Stock Up 0.7 %

NYSE:BOOT opened at $125.47 on Tuesday. Boot Barn has a 12-month low of $67.53 and a 12-month high of $169.83. The stock’s fifty day simple moving average is $153.67 and its 200-day simple moving average is $132.48. The firm has a market capitalization of $3.83 billion, a P/E ratio of 25.19 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last issued its earnings results 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 firm had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. As a group, equities research analysts expect that Boot Barn will post 5.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of 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 last quarter. Westwood Holdings Group Inc. grew its stake in Boot Barn by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after purchasing an additional 124,060 shares in the last quarter. Jennison Associates LLC increased its position in shares of Boot Barn by 19.6% during the 1st quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock worth $50,513,000 after purchasing an additional 86,969 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Boot Barn during the 1st quarter worth approximately $32,779,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Boot Barn by 1,212.4% in the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after buying an additional 263,444 shares during 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.