Boot Barn Holdings Inc (BOOT) Receives Average Rating of “Buy” from Brokerages

Boot Barn Holdings Inc (NYSE:BOOT) has been given an average rating of “Buy” by the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $17.63.

Several analysts recently issued reports on BOOT shares. Robert W. Baird reissued a “buy” rating and set a $24.00 target price on shares of Boot Barn in a research note on Thursday, February 1st. TheStreet raised Boot Barn from a “d” rating to a “c” rating in a research note on Monday, October 30th. JPMorgan Chase & Co. raised Boot Barn from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $17.00 in a research note on Sunday, November 26th. Zacks Investment Research raised Boot Barn from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday, February 1st. Finally, Jefferies Group reissued a “buy” rating and set a $20.00 target price on shares of Boot Barn in a research note on Monday, December 18th.

Boot Barn (BOOT) traded up $0.27 during midday trading on Tuesday, hitting $18.63. The stock had a trading volume of 788,910 shares, compared to its average volume of 1,004,191. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.46 and a quick ratio of 0.22. Boot Barn has a 1 year low of $5.90 and a 1 year high of $19.84. The company has a market capitalization of $520.50, a P/E ratio of 20.87, a P/E/G ratio of 1.78 and a beta of 1.71.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Boot Barn had a return on equity of 9.55% and a net margin of 3.67%. The firm had revenue of $224.70 million for the quarter, compared to the consensus estimate of $225.00 million. During the same quarter last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. analysts forecast that Boot Barn will post 0.69 EPS for the current fiscal year.

In other Boot Barn news, CEO James Grant Conroy sold 178,773 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $17.25, for a total transaction of $3,083,834.25. Following the completion of the transaction, the chief executive officer now owns 182,580 shares in the company, valued at approximately $3,149,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg Bettinelli sold 51,192 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $17.25, for a total value of $883,062.00. Following the transaction, the director now owns 58,875 shares of the company’s stock, valued at approximately $1,015,593.75. The disclosure for this sale can be found here. Insiders have sold a total of 6,643,581 shares of company stock valued at $114,601,772 in the last 90 days. 4.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in Boot Barn during the 4th quarter valued at approximately $673,000. Acadian Asset Management LLC purchased a new position in Boot Barn during the 4th quarter valued at approximately $348,000. GSA Capital Partners LLP purchased a new position in Boot Barn during the 3rd quarter valued at approximately $1,261,000. Cubist Systematic Strategies LLC purchased a new position in shares of Boot Barn in the 3rd quarter worth approximately $151,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Boot Barn by 38.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 865,400 shares of the company’s stock worth $7,702,000 after purchasing an additional 238,407 shares during the period.

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About Boot Barn

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.

Analyst Recommendations for Boot Barn (NYSE:BOOT)

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