Boot Barn Holdings, Inc. (NYSE:BOOT) Given Average Recommendation of “Moderate Buy” by Brokerages

Boot Barn Holdings, Inc. (NYSE:BOOT) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $164.55.

A number of analysts recently issued reports on BOOT shares. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and raised their price target for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th.

Boot Barn Stock Up 1.0 %

Boot Barn stock opened at $147.75 on Wednesday. Boot Barn has a 52-week low of $68.37 and a 52-week high of $169.83. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 29.67 and a beta of 2.14. The firm’s fifty day moving average is $144.19 and its 200 day moving average is $140.32.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $424.42 million. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Boot Barn in the second quarter valued at about $19,532,000. F M Investments LLC purchased a new stake in Boot Barn during the 2nd quarter valued at about $14,888,000. State Street Corp raised its holdings in Boot Barn by 4.4% in the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after acquiring an additional 51,356 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Boot Barn in the 3rd quarter worth approximately $5,931,000. Finally, Sei Investments Co. boosted its holdings in shares of Boot Barn by 39.3% during the 2nd quarter. Sei Investments Co. now owns 102,933 shares of the company’s stock worth $13,271,000 after purchasing an additional 29,049 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.