Boot Barn (NYSE:BOOT) Stock Rating Upgraded by 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 issued to investors on Wednesday, Zacks.com reports.

A number of other research firms also recently weighed in on BOOT. BTIG Research upped their target price on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup decreased their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday. Benchmark restated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group lifted their target price on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Trading Up 0.7 %

Shares of NYSE:BOOT opened at $125.47 on Wednesday. The stock has a fifty day simple moving average of $153.67 and a two-hundred day simple moving average of $132.48. Boot Barn has a 12-month low of $67.53 and a 12-month high of $169.83. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.19 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. As a group, equities research analysts predict that Boot Barn will post 5.48 EPS for the current year.

Hedge Funds Weigh In On Boot Barn

Institutional investors and hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. lifted its stake in shares of Boot Barn by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock worth $51,918,000 after acquiring an additional 124,060 shares in the last quarter. Jennison Associates LLC lifted its holdings in Boot Barn by 19.6% in the first quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock worth $50,513,000 after purchasing an additional 86,969 shares during the period. Capital Research Global Investors bought a new stake in shares of Boot Barn during the 1st quarter worth about $32,779,000. Janus Henderson Group PLC boosted its holdings 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 valued at $27,134,000 after acquiring an additional 263,444 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its stake in Boot Barn by 0.7% during the first quarter. Summit Creek Advisors LLC now owns 262,262 shares of the company’s stock valued at $24,954,000 after buying an additional 1,789 shares in the last quarter.

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.