Boot Barn (NYSE:BOOT) Price Target Raised to $120.00

Boot Barn (NYSE:BOOT) had its price target raised by TD Cowen from $115.00 to $120.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on BOOT. Williams Trading reiterated a hold rating on shares of Boot Barn in a report on Tuesday, January 16th. StockNews.com downgraded Boot Barn from a hold rating to a sell rating in a report on Friday, January 19th. B. Riley reduced their target price on Boot Barn from $92.00 to $83.00 and set a buy rating on the stock in a report on Thursday, February 1st. KeyCorp assumed coverage on Boot Barn in a report on Wednesday, February 7th. They set a sector weight rating on the stock. Finally, BTIG Research reduced their target price on Boot Barn from $102.00 to $100.00 and set a buy rating on the stock in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $109.11.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $102.05 on Monday. Boot Barn has a 1 year low of $64.33 and a 1 year high of $110.89. The company has a market cap of $3.09 billion, a PE ratio of 19.49 and a beta of 2.19. The stock’s 50-day moving average is $94.59 and its 200 day moving average is $82.42.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. The company had revenue of $520.40 million for the quarter, compared to the consensus estimate of $520.34 million. Analysts expect that Boot Barn will post 4.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Laurie Marie Grijalva sold 5,861 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $90.31, for a total value of $529,306.91. Following the sale, the insider now owns 5,861 shares in the company, valued at approximately $529,306.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gene Eddie Burt sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total value of $85,030.00. Following the transaction, the director now directly owns 1,542 shares of the company’s stock, valued at approximately $131,116.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laurie Marie Grijalva sold 5,861 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total value of $529,306.91. Following the completion of the transaction, the insider now directly owns 5,861 shares in the company, valued at $529,306.91. The disclosure for this sale can be found here. Insiders have sold 26,339 shares of company stock worth $2,413,715 in the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Boot Barn by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after buying an additional 35,925 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Boot Barn by 186.6% during the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after buying an additional 1,675,410 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after buying an additional 649,021 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Boot Barn by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock valued at $83,425,000 after buying an additional 16,308 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Boot Barn by 35.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after buying an additional 182,130 shares during the period.

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.