Boot Barn (NYSE:BOOT) Upgraded to Strong-Buy at 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 report report published on Wednesday, Zacks.com reports.

A number of other brokerages also recently issued reports on BOOT. Benchmark reissued a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a report on Wednesday. BTIG Research boosted their price target on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday. Williams Trading reiterated a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research note on Tuesday. Finally, Piper Sandler restated an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Price Performance

BOOT opened at $127.12 on Wednesday. The company has a market capitalization of $3.86 billion, a PE ratio of 26.48 and a beta of 2.12. The business has a fifty day simple moving average of $154.30 and a 200 day simple moving average of $132.35. Boot Barn has a 1 year low of $66.73 and a 1 year high of $169.83.

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

Institutional Trading of Boot Barn

Hedge funds have recently made changes to their positions in the company. Norden Group LLC acquired a new position in shares of Boot Barn in the first quarter worth approximately $442,000. Janney Montgomery Scott LLC raised its stake in Boot Barn by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,787 shares of the company’s stock worth $455,000 after buying an additional 150 shares during the period. Capstone Investment Advisors LLC boosted its holdings in Boot Barn by 34.1% in the first quarter. Capstone Investment Advisors LLC now owns 11,520 shares of the company’s stock worth $1,096,000 after acquiring an additional 2,928 shares in the last quarter. Jennison Associates LLC boosted 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 acquiring an additional 86,969 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in Boot Barn by 3.9% in the first quarter. Whittier Trust Co. now owns 99,231 shares of the company’s stock valued at $9,442,000 after acquiring an additional 3,748 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.