Boot Barn (NYSE:BOOT) PT Raised to $127.00

Boot Barn (NYSE:BOOT) had its price target hoisted 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 suggests a potential downside of 2.31% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. TD Cowen upped their price target on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Benchmark reiterated a “buy” rating and issued a $140.00 target price on shares of Boot Barn in a research report on Tuesday. Craig Hallum increased their target price on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Boot Barn from $125.00 to $146.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Citigroup increased their price target on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and a consensus price target of $136.36.

Boot Barn Price Performance

Shares of Boot Barn stock traded up $14.30 on Thursday, hitting $130.00. The company had a trading volume of 270,701 shares, compared to its average volume of 806,253. The company has a market cap of $3.95 billion, a PE ratio of 27.08 and a beta of 2.09. Boot Barn has a 52 week low of $66.73 and a 52 week high of $137.48. The business has a 50-day simple moving average of $126.36 and a 200-day simple moving average of $105.80.

Boot Barn (NYSE:BOOT) last issued its earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The firm had revenue of $388.46 million during the quarter, compared to analysts’ expectations of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. On average, equities research analysts predict that Boot Barn will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boot Barn news, insider Michael A. Love sold 5,653 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the sale, the insider now directly owns 2,327 shares in the company, valued at approximately $264,370.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael A. Love sold 5,653 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total transaction of $642,237.33. Following the completion of the transaction, the insider now directly owns 2,327 shares of the company’s stock, valued at approximately $264,370.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was 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 of the company’s stock, valued at $148,191.89. The disclosure for this sale can be found here. Insiders have sold 11,795 shares of company stock worth $1,329,686 in the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of 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. Headlands Technologies LLC increased 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 valued at $60,000 after purchasing an additional 716 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Boot Barn in the 2nd quarter valued at $84,000. Principal Securities Inc. acquired a new position in Boot Barn in the fourth quarter worth $102,000. Finally, Quest Partners LLC bought a new stake in shares of Boot Barn during the fourth quarter worth $112,000.

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.