Boot Barn (NYSE:BOOT) Upgraded at Baird R W

Baird R W upgraded shares of Boot Barn (NYSE:BOOT) from a hold rating to a strong-buy rating in a research note published on Wednesday, Zacks.com reports.

BOOT has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research note on Tuesday. UBS Group lifted their price objective on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler reissued an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a research report on Tuesday. Williams Trading reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a research report on Tuesday. Finally, Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their target price for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Trading Up 0.7 %

BOOT stock opened at $125.47 on Wednesday. The stock has a market capitalization of $3.83 billion, a P/E ratio of 25.19 and a beta of 2.12. Boot Barn has a 12 month low of $67.53 and a 12 month high of $169.83. The firm has a 50-day moving average price of $153.67 and a 200-day moving average price of $132.48.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same period last year, the company earned $0.91 earnings per share. The firm’s revenue was up 13.7% compared to the same quarter last year. As a group, equities analysts predict that Boot Barn will post 5.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors bought a new stake in Boot Barn during the 1st quarter worth approximately $32,779,000. Janus Henderson Group PLC raised its position in shares of Boot Barn by 1,212.4% in the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock worth $27,134,000 after buying an additional 263,444 shares in the last quarter. Marshall Wace LLP bought a new stake in Boot Barn during the second quarter valued at $19,532,000. Westwood Holdings Group Inc. grew its position in Boot Barn by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock worth $51,918,000 after buying an additional 124,060 shares in the last quarter. Finally, F M Investments LLC bought a new position in Boot Barn in the 2nd quarter worth about $14,888,000.

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.