Stephens Begins Coverage on Boot Barn (NYSE:BOOT)

Equities research analysts at Stephens initiated coverage on shares of Boot Barn (NYSE:BOOT) in a report issued on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $100.00 price target on the stock. Stephens’ price target suggests a potential upside of 8.11% from the stock’s previous close.

Several other equities analysts also recently issued reports on BOOT. KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Thursday, January 23rd. BTIG Research upped their target price on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Robert W. Baird cut their price target on Boot Barn from $190.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Bank of America increased their price objective on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.62.

Boot Barn Price Performance

Shares of Boot Barn stock traded up $0.58 during trading on Wednesday, hitting $92.50. 91,296 shares of the stock were exchanged, compared to its average volume of 792,368. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.75. The firm’s 50-day moving average price is $119.36 and its 200 day moving average price is $140.34. Boot Barn has a 12-month low of $88.74 and a 12-month high of $176.64.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, research analysts forecast that Boot Barn will post 5.82 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds have recently added to or reduced their stakes in BOOT. FMR LLC raised its stake in shares of Boot Barn by 47.3% during the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after buying an additional 709,903 shares in the last quarter. Wellington Management Group LLP grew its holdings in Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock worth $328,091,000 after acquiring an additional 706,518 shares during the period. Stephens Investment Management Group LLC purchased a new position in Boot Barn in the fourth quarter worth $46,699,000. Proficio Capital Partners LLC acquired a new stake in Boot Barn in the fourth quarter valued at $45,177,000. Finally, Capital Research Global Investors boosted its position in shares of Boot Barn by 32.6% during the 4th quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after purchasing an additional 280,892 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.