Boot Barn (NYSE:BOOT) Stock Rating Upgraded by Stephens

Boot Barn (NYSE:BOOT) was upgraded by analysts at Stephens to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on BOOT. KeyCorp upgraded Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $181.00 target price (up from $179.00) on shares of Boot Barn in a research report on Friday, January 31st. StockNews.com lowered shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. BTIG Research raised their price objective on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Robert W. Baird reduced their target price on Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.62.

Boot Barn Stock Down 4.3 %

Shares of BOOT traded down $4.28 during mid-day trading on Tuesday, reaching $94.71. 35,730 shares of the stock traded hands, compared to its average volume of 799,365. The stock has a fifty day simple moving average of $115.87 and a 200 day simple moving average of $139.19. Boot Barn has a 12-month low of $88.23 and a 12-month high of $176.64. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.43 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%. On average, equities research analysts expect that Boot Barn will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

Several institutional investors have recently modified their holdings of BOOT. FMR LLC raised its holdings in shares of Boot Barn by 47.3% in 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 position in Boot Barn by 48.6% in the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after acquiring an additional 706,518 shares during the period. Stephens Investment Management Group LLC acquired a new position in Boot Barn during the fourth quarter worth $46,699,000. Proficio Capital Partners LLC acquired a new position in shares of Boot Barn during the fourth quarter worth approximately $45,177,000. Finally, Capital Research Global Investors grew its stake in shares of Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock valued at $173,351,000 after purchasing an additional 280,892 shares during 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.