Citigroup Cuts Boot Barn (NYSE:BOOT) Price Target to $178.00

Boot Barn (NYSE:BOOT) had its price objective cut by Citigroup from $194.00 to $178.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the stock from $154.00 to $162.00 in a report on Friday, October 25th. Benchmark restated a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday. BTIG Research boosted their target price on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Performance

NYSE:BOOT opened at $124.54 on Tuesday. Boot Barn has a 52-week low of $66.73 and a 52-week high of $169.83. The business’s fifty day moving average is $154.30 and its 200 day moving average is $132.35. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 25.94 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Equities analysts predict that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds have recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new stake in Boot Barn in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in Boot Barn by 111.1% during 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 period. Canada Pension Plan Investment Board bought a new position in shares of Boot Barn in the second quarter worth about $64,000. USA Financial Formulas purchased a new stake in shares of Boot Barn during the third quarter worth about $92,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Boot Barn during the 2nd quarter valued at approximately $84,000.

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.