Boot Barn (NYSE:BOOT) Price Target Raised to $127.00

Boot Barn (NYSE:BOOT) had its target price increased by UBS Group from $125.00 to $127.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential downside of 5.14% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Robert W. Baird lifted their target price on shares of Boot Barn from $132.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday. Benchmark reissued a “buy” rating and set a $140.00 price objective on shares of Boot Barn in a research report on Tuesday. Piper Sandler boosted their price objective on shares of Boot Barn from $144.00 to $147.00 and gave the company an “overweight” rating in a research report on Thursday. BTIG Research boosted their price objective on shares of Boot Barn from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Finally, Craig Hallum lifted their target price on shares of Boot Barn from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.36.

Boot Barn Trading Up 1.6 %

NYSE:BOOT traded up $2.17 during trading hours on Thursday, reaching $133.88. The company had a trading volume of 919,647 shares, compared to its average volume of 816,174. Boot Barn has a 52 week low of $66.73 and a 52 week high of $137.48. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 27.89 and a beta of 2.09. The firm’s 50 day moving average price is $127.00 and its 200-day moving average price is $106.63.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The business had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, analysts forecast that Boot Barn will post 5.03 earnings per share for the current fiscal year.

Insider Activity at Boot Barn

In related news, insider John Hazen sold 3,563 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction of $403,367.23. Following the transaction, the insider now directly owns 1,309 shares in the company, valued at approximately $148,191.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boot Barn news, insider John Hazen sold 3,563 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total value of $403,367.23. Following the transaction, the insider now directly owns 1,309 shares in the company, valued at approximately $148,191.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the transaction, the director now owns 4,546 shares in the company, valued at $500,560.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,795 shares of company stock worth $1,329,686. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds have recently added to or reduced their stakes in BOOT. Broad Bay Capital Management LP lifted its position in shares of Boot Barn by 25.0% in the 4th quarter. Broad Bay Capital Management LP now owns 400,000 shares of the company’s stock worth $30,704,000 after purchasing an additional 80,000 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Boot Barn during the fourth quarter valued at approximately $1,167,000. Eagle Asset Management Inc. lifted its position in Boot Barn by 17.6% during the fourth quarter. Eagle Asset Management Inc. now owns 337,335 shares of the company’s stock valued at $25,894,000 after acquiring an additional 50,577 shares during the last quarter. Prevail Innovative Wealth Advisors LLC lifted its position in Boot Barn by 60.0% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 28,522 shares of the company’s stock valued at $2,189,000 after acquiring an additional 10,699 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in Boot Barn during the first quarter valued at approximately $695,000.

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.