Piper Sandler Increases Boot Barn (NYSE:BOOT) Price Target to $110.00

Boot Barn (NYSE:BOOT) had its price objective upped by Piper Sandler from $94.00 to $110.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

BOOT has been the subject of several other reports. KeyCorp assumed coverage on Boot Barn in a research note on Wednesday, February 7th. They issued a sector weight rating for the company. Robert W. Baird increased their price objective on Boot Barn from $70.00 to $90.00 and gave the stock a neutral rating in a research note on Thursday, March 21st. BTIG Research lowered their price objective on Boot Barn from $102.00 to $100.00 and set a buy rating for the company in a research note on Thursday, February 1st. UBS Group raised Boot Barn from a neutral rating to a buy rating and increased their price objective for the stock from $75.00 to $108.00 in a research note on Friday, January 5th. Finally, B. Riley lowered their price objective on Boot Barn from $92.00 to $83.00 and set a buy rating for the company in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $105.56.

Boot Barn Stock Performance

BOOT stock opened at $98.60 on Tuesday. The stock’s 50 day simple moving average is $91.94 and its 200 day simple moving average is $80.94. Boot Barn has a fifty-two week low of $64.33 and a fifty-two week high of $104.91. The company has a market cap of $2.99 billion, a P/E ratio of 18.36 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. The business had revenue of $520.40 million for the quarter, compared to the consensus estimate of $520.34 million. Equities analysts predict that Boot Barn will post 4.72 earnings per share for the current year.

Insider Activity

In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the completion of the transaction, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at $4,274,699.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the completion of the transaction, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at $4,274,699.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gene Eddie Burt sold 1,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total value of $85,030.00. Following the transaction, the director now directly owns 1,542 shares of the company’s stock, valued at $131,116.26. The disclosure for this sale can be found here. Insiders sold a total of 26,339 shares of company stock valued at $2,413,715 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of BOOT. Wellington Management Group LLP lifted its position in shares of Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after acquiring an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Boot Barn by 43.8% during the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after acquiring an additional 649,021 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Boot Barn during the fourth quarter worth $32,361,000. Ameriprise Financial Inc. lifted its position in shares of Boot Barn by 107.0% during the first quarter. Ameriprise Financial Inc. now owns 662,669 shares of the company’s stock worth $50,787,000 after acquiring an additional 342,539 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Boot Barn during the third quarter worth $23,028,000.

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.