Boot Barn (NYSE:BOOT) Price Target Cut to $178.00 by Analysts at Citigroup

Boot Barn (NYSE:BOOT) had its price objective lowered by Citigroup from $194.00 to $178.00 in a report published on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Williams Trading reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and set a $192.00 target price on shares of Boot Barn in a research report on Tuesday. BTIG Research upped their price target on Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group upped their price objective on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird upped their price target on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Up 0.7 %

Shares of BOOT opened at $125.47 on Tuesday. The stock has a market capitalization of $3.83 billion, a P/E ratio of 25.19 and a beta of 2.12. Boot Barn has a twelve month low of $67.53 and a twelve month high of $169.83. The company has a 50 day moving average of $153.67 and a 200-day moving average of $132.48.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Institutional investors have recently modified their holdings of the business. GHP Investment Advisors Inc. acquired a new position in shares of Boot Barn in the third quarter worth $25,000. GAMMA Investing LLC raised its holdings 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 buying an additional 140 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Boot Barn during the second quarter worth about $64,000. USA Financial Formulas purchased a new position in Boot Barn during the third quarter worth about $92,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Boot Barn during the second quarter worth about $84,000.

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.