Boot Barn (NYSE:BOOT) Stock Price Expected to Rise, Bank of America Analyst Says

Boot Barn (NYSE:BOOT) had its price target lifted by Bank of America from $187.00 to $192.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 27.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research report on Wednesday, October 30th. Finally, Williams Trading reissued a “buy” rating and set a $173.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.58.

Boot Barn Trading Down 2.8 %

NYSE:BOOT opened at $150.60 on Wednesday. The company has a market cap of $4.60 billion, a PE ratio of 30.24 and a beta of 2.10. The company has a 50 day simple moving average of $145.07 and a two-hundred day simple moving average of $143.25. Boot Barn has a 12 month low of $69.35 and a 12 month high of $169.83.

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

Insider Transactions at Boot Barn

In other Boot Barn 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 value of $965,456.78. Following the sale, the chief executive officer now owns 3,937 shares in the company, valued at $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Several large investors have recently made changes to their positions in BOOT. Trust Point Inc. grew its holdings in Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after buying an additional 71 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Boot Barn by 3.7% in the third quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock valued at $382,000 after purchasing an additional 82 shares in the last quarter. Fisher Asset Management LLC increased its position in Boot Barn by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after purchasing an additional 83 shares during the last quarter. Kings Path Partners LLC raised its stake in Boot Barn by 2.7% during the third quarter. Kings Path Partners LLC now owns 5,430 shares of the company’s stock valued at $908,000 after purchasing an additional 142 shares in the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in Boot Barn during the third quarter valued at $25,000.

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.