Boot Barn (NYSE:BOOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $21.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.64% from the stock’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 research firms have also issued reports on BOOT. ValuEngine upgraded Boot Barn from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Co set a $20.00 target price on Boot Barn and gave the company a “hold” rating in a research note on Thursday, January 11th. Robert W. Baird reiterated a “buy” rating and issued a $24.00 target price on shares of Boot Barn in a research note on Thursday, February 1st. Pivotal Research began coverage on Boot Barn in a research note on Thursday, January 25th. They issued a “hold” rating and a $18.00 target price on the stock. Finally, Jefferies Group reiterated a “buy” rating and issued a $20.00 target price on shares of Boot Barn in a research note on Monday, December 18th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $17.75.
Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, January 31st. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Boot Barn had a return on equity of 9.55% and a net margin of 3.67%. The company had revenue of $224.70 million for the quarter, compared to analyst estimates of $225.00 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. research analysts predict that Boot Barn will post 0.7 earnings per share for the current fiscal year.
In other news, CEO James Grant Conroy sold 178,773 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 182,580 shares in the company, valued at $3,149,505. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Fs Capital Partners Vi, Llc sold 6,413,616 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $17.25, for a total value of $110,634,876.00. The disclosure for this sale can be found here. Insiders have sold 6,682,831 shares of company stock worth $115,327,897 in the last 90 days. Insiders own 4.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Pier Capital LLC purchased a new stake in shares of Boot Barn during the fourth quarter worth about $4,857,000. TIAA CREF Investment Management LLC boosted its position in Boot Barn by 289.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 143,800 shares of the company’s stock valued at $2,389,000 after buying an additional 106,865 shares during the last quarter. Garnet Equity Capital Holdings Inc. purchased a new stake in Boot Barn in the fourth quarter valued at approximately $3,246,000. Two Sigma Investments LP purchased a new stake in Boot Barn in the fourth quarter valued at approximately $1,985,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in Boot Barn in the fourth quarter valued at approximately $246,000.
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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