Boot Barn (NYSE:BOOT) Upgraded at Robert W. Baird

Boot Barn (NYSE:BOOT) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Wednesday, Briefing.com reports. The brokerage presently has a $167.00 price target on the stock. Robert W. Baird’s price objective would indicate a potential upside of 29.08% from the stock’s current price.

A number of other analysts have also commented on the company. Craig Hallum lowered Boot Barn from a “buy” rating to a “hold” rating and increased their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a research report on Tuesday. UBS Group increased their price target on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a research report on Tuesday. Finally, 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 note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Boot Barn has a consensus rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Trading Down 19.7 %

Shares of BOOT opened at $129.38 on Wednesday. The firm has a market capitalization of $3.93 billion, a PE ratio of 26.95 and a beta of 2.12. The stock’s 50 day moving average is $154.55 and its two-hundred day moving average is $132.38. Boot Barn has a twelve month low of $66.73 and a twelve month high of $169.83.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that Boot Barn will post 5.29 EPS for the current year.

Institutional Trading of Boot Barn

Large investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. acquired a new stake in Boot Barn in the third quarter valued at approximately $25,000. GAMMA Investing LLC grew its holdings in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Boot Barn in the 2nd quarter worth $64,000. 1620 Investment Advisors Inc. purchased a new position in Boot Barn in the 2nd quarter valued at about $84,000. Finally, USA Financial Formulas acquired a new stake in shares of Boot Barn during the third quarter valued at about $92,000.

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.