Boot Barn (NYSE:BOOT) Receives “Overweight” Rating from Piper Sandler

Boot Barn (NYSE:BOOT)‘s stock had its “overweight” rating reissued by Piper Sandler in a research note issued on Friday,Benzinga reports. They presently have a $181.00 target price on the stock, up from their prior target price of $179.00. Piper Sandler’s price target points to a potential upside of 6.07% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Williams Trading restated a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Bank of America upped their price target on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. BTIG Research upped their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $173.15.

Boot Barn Stock Down 2.2 %

Shares of BOOT traded down $3.88 during trading hours on Friday, hitting $170.64. 497,570 shares of the company were exchanged, compared to its average volume of 811,889. Boot Barn has a fifty-two week low of $71.54 and a fifty-two week high of $176.64. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 1.57 and a beta of 2.10. The firm’s fifty day moving average is $152.95 and its 200 day moving average is $146.29.

Boot Barn (NYSE:BOOT) last issued its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. Analysts anticipate that Boot Barn will post 5.8 EPS for the current year.

Insider Buying and Selling

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the transaction, the chief executive officer now owns 3,937 shares of the company’s stock, valued at $602,282.26. The trade was a 61.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Boot Barn

A number of hedge funds have recently bought and sold shares of the company. James Investment Research Inc. boosted its stake in shares of Boot Barn by 11.6% in the 4th quarter. James Investment Research Inc. now owns 13,703 shares of the company’s stock valued at $2,080,000 after purchasing an additional 1,429 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Boot Barn by 1,430.0% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after buying an additional 143 shares during the period. Legato Capital Management LLC lifted its stake in shares of Boot Barn by 63.9% in the 4th quarter. Legato Capital Management LLC now owns 18,030 shares of the company’s stock valued at $2,737,000 after acquiring an additional 7,029 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Boot Barn by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after purchasing an additional 100 shares during the last quarter. Finally, Shaker Investments LLC OH boosted its position in Boot Barn by 139.6% during the 4th quarter. Shaker Investments LLC OH now owns 18,511 shares of the company’s stock valued at $2,810,000 after buying an additional 10,786 shares during the period.

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.