Boot Barn Holdings, Inc. (BOOT) Upgraded to “Buy” at Zacks Investment Research
Boot Barn Holdings, Inc. (NYSE:BOOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $9.75 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 12.85% from the stock’s previous close.
According to Zacks, “Boot Barn Holdings, Inc. operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. The company’s products include boots, denim, western shirts, cowboy hats, belts and belt buckles, and western-style jewellery and accessories; and rugged footwear, outerwear, overalls, denims, and shirts, as well as safety-toe boots, and flame-resistant and high-visibility clothing. It sells its products through bootbarn.com, an e-commerce Website. Boot Barn Holdings, Inc. is headquartered in Irvine, California. “
A number of other equities research analysts also recently issued reports on BOOT. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $7.00 price objective (down from $11.00) on shares of Boot Barn Holdings in a research report on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and set a $15.00 target price on shares of Boot Barn Holdings in a research report on Tuesday, July 4th. Citigroup Inc. reissued a “buy” rating and set a $9.00 target price (down previously from $14.00) on shares of Boot Barn Holdings in a research report on Monday, June 5th. B. Riley restated a “buy” rating and issued a $9.00 target price on shares of Boot Barn Holdings in a research note on Monday, June 5th. Finally, Robert W. Baird upgraded Boot Barn Holdings from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $11.00 in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $10.34.
Shares of Boot Barn Holdings (NYSE BOOT) traded down 0.46% during midday trading on Tuesday, reaching $8.64. 181,736 shares of the company traded hands. The firm has a market capitalization of $229.75 million, a PE ratio of 16.03 and a beta of 1.29. Boot Barn Holdings has a 12-month low of $5.90 and a 12-month high of $17.26. The company has a 50-day moving average of $8.42 and a 200 day moving average of $8.39.
Boot Barn Holdings (NYSE:BOOT) last announced its earnings results on Tuesday, August 1st. The company reported $0.03 EPS for the quarter. Boot Barn Holdings had a net margin of 2.26% and a return on equity of 8.58%. The company had revenue of $139.40 million during the quarter, compared to the consensus estimate of $139.00 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Boot Barn Holdings will post $0.61 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Boot Barn Holdings by 100.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 341,122 shares of the company’s stock valued at $3,374,000 after acquiring an additional 171,147 shares during the period. Gotham Asset Management LLC purchased a new stake in Boot Barn Holdings during the first quarter valued at about $112,000. North Star Investment Management Corp. lifted its holdings in Boot Barn Holdings by 26.2% during the second quarter. North Star Investment Management Corp. now owns 130,100 shares of the company’s stock valued at $921,000 after purchasing an additional 27,000 shares during the last quarter. Stephens Investment Management Group LLC lifted its holdings in Boot Barn Holdings by 10.3% during the second quarter. Stephens Investment Management Group LLC now owns 1,355,588 shares of the company’s stock valued at $9,598,000 after purchasing an additional 127,021 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Boot Barn Holdings by 67.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 43,330 shares of the company’s stock valued at $307,000 after purchasing an additional 17,420 shares during the last quarter.
About Boot Barn Holdings
Boot Barn Holdings, Inc is a lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company’s stores are located in or near neighborhood shopping centers with trade areas of approximately five or more miles, and it has opened stores in malls and outlet center locations.
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