Boot Barn (NYSE:BOOT) Price Target Raised to $209.00

Boot Barn (NYSE:BOOT) had its price target boosted by JPMorgan Chase & Co. from $200.00 to $209.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

BOOT has been the subject of a number of other reports. 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, October 29th. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price target (up from $179.00) on shares of Boot Barn in a report on Friday. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $155.00 to $210.00 in a report on Friday, January 10th. Finally, Benchmark restated a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $174.77.

Boot Barn Trading Down 7.9 %

NYSE BOOT opened at $160.70 on Friday. Boot Barn has a 12 month low of $71.54 and a 12 month high of $176.64. The stock’s fifty day moving average price is $153.42 and its 200-day moving average price is $146.51. The stock has a market cap of $4.90 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.57 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data 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%. As a group, analysts forecast that Boot Barn will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boot Barn

Several large investors have recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC purchased a new stake in shares of Boot Barn during the fourth quarter worth about $46,699,000. Artemis Investment Management LLP bought a new position in Boot Barn in the 4th quarter worth approximately $36,361,000. Jennison Associates LLC grew its holdings in Boot Barn by 92.3% during the 4th quarter. Jennison Associates LLC now owns 340,550 shares of the company’s stock valued at $51,702,000 after buying an additional 163,451 shares in the last quarter. State Street Corp raised its position in shares of Boot Barn by 4.4% during the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after buying an additional 51,356 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Boot Barn by 56.5% in the third quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after buying an additional 51,032 shares in 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.