Boot Barn (NYSE:BOOT) Lowered to Hold at Craig Hallum

Craig Hallum cut shares of Boot Barn (NYSE:BOOT) from a buy rating to a hold rating in a research note released on Friday, Marketbeat reports. The brokerage currently has $162.00 price objective on the stock, up from their prior price objective of $154.00.

A number of other research firms also recently issued reports on BOOT. Piper Sandler raised their price objective on shares of Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. UBS Group raised their target price on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Robert W. Baird boosted their target price on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Citigroup upped their price objective on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $157.20.

Boot Barn Price Performance

BOOT opened at $158.00 on Friday. The firm’s fifty day moving average price is $154.19 and its two-hundred day moving average price is $131.30. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 32.92 and a beta of 2.12. Boot Barn has a 1 year low of $66.73 and a 1 year high of $169.83.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. The business had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, equities analysts anticipate that Boot Barn will post 5.29 EPS for the current year.

Institutional Investors Weigh In On Boot Barn

Several hedge funds have recently bought and sold shares of the stock. GHP Investment Advisors Inc. purchased a new stake in shares of Boot Barn during the 3rd quarter valued at $25,000. GAMMA Investing LLC increased its stake in Boot Barn by 111.1% in the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after acquiring an additional 140 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Boot Barn during the second quarter valued at about $64,000. 1620 Investment Advisors Inc. bought a new stake in Boot Barn during the second quarter worth about $84,000. Finally, USA Financial Formulas purchased a new position in shares of Boot Barn in the 3rd quarter worth about $92,000.

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.