Boot Barn (NYSE:BOOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $21.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.44% from the company’s current price.
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. “
Several other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Boot Barn from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Robert W. Baird reiterated a “buy” rating and issued a $24.00 price objective on shares of Boot Barn in a report on Thursday, February 1st. Pivotal Research set a $19.00 price objective on Boot Barn and gave the stock a “hold” rating in a report on Wednesday, January 31st. Wells Fargo & Co set a $20.00 price objective on Boot Barn and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Jefferies Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Boot Barn in a report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $17.75.
Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.46 earnings per share (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 business had revenue of $224.70 million for the quarter, compared to analyst estimates of $225.00 million. During the same period last year, the company earned $0.39 EPS. Boot Barn’s revenue for the quarter was up 12.7% compared to the same quarter last year. equities research analysts anticipate that Boot Barn will post 0.7 EPS for the current fiscal year.
In other news, insider Fs Capital Partners Vi, Llc sold 6,413,616 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 value of $110,634,876.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Grant Conroy sold 178,773 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 $3,083,834.25. Following the completion of the transaction, the chief executive officer now owns 182,580 shares of the company’s stock, valued at approximately $3,149,505. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,643,581 shares of company stock valued at $114,601,772. 4.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC increased its position in Boot Barn by 3.5% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,487,413 shares of the company’s stock valued at $22,138,000 after buying an additional 84,222 shares in the last quarter. Stephens Investment Management Group LLC increased its position in Boot Barn by 15.7% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,568,993 shares of the company’s stock valued at $13,964,000 after buying an additional 213,405 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Boot Barn by 38.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 865,400 shares of the company’s stock valued at $7,702,000 after buying an additional 238,407 shares in the last quarter. Citadel Advisors LLC increased its position in Boot Barn by 1.8% during the 3rd quarter. Citadel Advisors LLC now owns 540,305 shares of the company’s stock valued at $4,808,000 after buying an additional 9,437 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Boot Barn during the 3rd quarter valued at approximately $3,674,000.
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.
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