Analysts Set Boot Barn Holdings, Inc. (NYSE:BOOT) Target Price at $103.44

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $103.44.

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Boot Barn in a research note on Thursday, October 5th. They set a “sell” rating for the company. TD Cowen upped their price target on Boot Barn from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Piper Sandler dropped their price target on Boot Barn from $120.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. BTIG Research upped their price target on Boot Barn from $98.00 to $115.00 in a research note on Thursday, August 3rd. Finally, Citigroup dropped their price target on Boot Barn from $116.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th.

Insider Activity

In related news, CFO James M. Watkins sold 15,099 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $75.19, for a total value of $1,135,293.81. Following the sale, the chief financial officer now owns 12,819 shares of the company’s stock, valued at approximately $963,860.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Several large investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC increased its position in Boot Barn by 4.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 266,135 shares of the company’s stock valued at $21,608,000 after acquiring an additional 12,085 shares during the period. Creative Planning acquired a new position in shares of Boot Barn during the 3rd quarter valued at $241,000. Public Employees Retirement System of Ohio increased its position in shares of Boot Barn by 3.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 53,154 shares of the company’s stock valued at $4,316,000 after purchasing an additional 1,800 shares during the period. Morgan Stanley increased its position in shares of Boot Barn by 6.1% during the 3rd quarter. Morgan Stanley now owns 596,207 shares of the company’s stock valued at $48,406,000 after purchasing an additional 34,220 shares during the period. Finally, Townsquare Capital LLC increased its position in shares of Boot Barn by 42.2% during the 3rd quarter. Townsquare Capital LLC now owns 13,476 shares of the company’s stock valued at $1,094,000 after purchasing an additional 4,001 shares during the period.

Boot Barn Trading Up 0.4 %

Boot Barn stock opened at $71.34 on Tuesday. The firm has a market capitalization of $2.16 billion, a P/E ratio of 13.46, a PEG ratio of 6.79 and a beta of 2.37. The stock has a fifty day moving average price of $77.32 and a 200 day moving average price of $81.45. Boot Barn has a 52 week low of $56.62 and a 52 week high of $104.91.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, November 2nd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $374.46 million during the quarter, compared to analyst estimates of $378.44 million. Boot Barn had a return on equity of 20.28% and a net margin of 9.49%. As a group, equities analysts predict that Boot Barn will post 4.93 EPS for the current year.

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.