BTIG Research Raises Boot Barn (NYSE:BOOT) Price Target to $127.00

Boot Barn (NYSE:BOOT) had its price target hoisted by equities research analysts at BTIG Research from $100.00 to $127.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 17.82% from the stock’s previous close.

A number of other analysts have also recently weighed in on BOOT. Piper Sandler raised their price target on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $108.00 in a report on Friday, January 5th. TD Cowen increased their price objective on Boot Barn from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday. KeyCorp assumed coverage on Boot Barn in a research note on Wednesday, February 7th. They set a “sector weight” rating on the stock. Finally, Williams Trading reaffirmed a “hold” rating on shares of Boot Barn in a research report on Tuesday, January 16th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.11.

Boot Barn Stock Up 0.5 %

Shares of NYSE:BOOT opened at $107.79 on Monday. The stock has a market cap of $3.27 billion, a P/E ratio of 20.07 and a beta of 2.19. Boot Barn has a 52-week low of $64.33 and a 52-week high of $109.51. The business’s 50 day moving average is $93.87 and its 200 day moving average is $82.01.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.01. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. The company had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. On average, sell-side analysts anticipate that Boot Barn will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling at Boot Barn

In related news, insider Laurie Marie Grijalva sold 5,861 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the completion of the transaction, the insider now directly owns 5,861 shares in the company, valued at $529,306.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boot Barn news, insider Laurie Marie Grijalva sold 5,861 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $90.31, for a total value of $529,306.91. Following the sale, the insider now directly owns 5,861 shares of the company’s stock, valued at $529,306.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Grant Conroy sold 19,478 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,339 shares of company stock worth $2,413,715. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds have recently modified their holdings of the business. Headlands Technologies LLC lifted its holdings in Boot Barn by 1,037.7% during the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after buying an additional 716 shares in the last quarter. Principal Securities Inc. purchased a new position in Boot Barn in the fourth quarter valued at approximately $102,000. Quest Partners LLC acquired a new stake in Boot Barn during the fourth quarter worth approximately $112,000. Neo Ivy Capital Management purchased a new position in Boot Barn during the 4th quarter worth $165,000. Finally, Allworth Financial LP raised its stake in Boot Barn by 61,325.0% during the 3rd quarter. Allworth Financial LP now owns 2,457 shares of the company’s stock valued at $199,000 after acquiring an additional 2,453 shares during the last quarter.

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.