Brokerages Set Boot Barn Holdings, Inc. (NYSE:BOOT) Price Target at $175.62

Boot Barn Holdings, Inc. (NYSE:BOOT) has earned a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $169.23.

BOOT has been the subject of a number of recent research reports. Stephens assumed coverage on shares of Boot Barn in a research note on Wednesday, April 9th. They set an “overweight” rating and a $100.00 price objective for the company. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. JPMorgan Chase & Co. upped their price objective on Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a research report on Friday, January 31st. Finally, Robert W. Baird cut their target price on shares of Boot Barn from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake 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 valued at $335,720,000 after purchasing an additional 709,903 shares in the last quarter. Wellington Management Group LLP lifted its position 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 valued at $328,091,000 after buying an additional 706,518 shares in the last quarter. Artemis Investment Management LLP grew its stake in Boot Barn by 206.5% during the first quarter. Artemis Investment Management LLP now owns 734,023 shares of the company’s stock worth $78,856,000 after buying an additional 494,523 shares during the period. Stephens Investment Management Group LLC purchased a new stake in Boot Barn during the fourth quarter worth approximately $46,699,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Boot Barn in the fourth quarter worth $45,177,000.

Boot Barn Stock Performance

Shares of BOOT stock opened at $102.63 on Tuesday. The stock has a fifty day moving average price of $106.43 and a 200 day moving average price of $133.85. The stock has a market cap of $3.14 billion, a PE ratio of 18.33, a P/E/G ratio of 1.17 and a beta of 1.75. Boot Barn has a 1 year low of $86.17 and a 1 year high of $176.64.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results 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, equities research analysts predict that Boot Barn will post 5.82 earnings per share for the current year.

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.