Boot Barn (NYSE:BOOT) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Boot Barn (NYSE:BOOT) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat Ratings reports. They currently have $210.00 price objective on the stock, up from their previous price objective of $155.00.

A number of other research analysts have also recently weighed in on BOOT. Piper Sandler reissued an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Citigroup cut their price target on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and upped their target price for the company from $154.00 to $162.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.75.

Boot Barn Stock Performance

Shares of BOOT stock opened at $155.95 on Friday. The stock has a fifty day moving average price of $143.92 and a 200 day moving average price of $142.67. The stock has a market cap of $4.76 billion, a PE ratio of 31.32 and a beta of 2.10. Boot Barn has a 1 year low of $69.35 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, equities research analysts predict that Boot Barn will post 5.48 earnings per share for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boot Barn

Several hedge funds and other institutional investors have recently bought and sold shares of BOOT. GHP Investment Advisors Inc. acquired a new stake in shares of Boot Barn during the third quarter valued at about $25,000. Canada Pension Plan Investment Board purchased a new stake in Boot Barn during the 2nd quarter worth approximately $64,000. GAMMA Investing LLC raised its position in shares of Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Boot Barn during the third quarter worth approximately $92,000. Finally, KBC Group NV increased its stake in shares of Boot Barn by 23.3% in the third quarter. KBC Group NV now owns 951 shares of the company’s stock worth $159,000 after buying an additional 180 shares during 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.