Citigroup Issues Positive Forecast for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT) had its price target lifted by Citigroup from $137.00 to $180.00 in a report published on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. Stephens started coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 target price for the company. Robert W. Baird lifted their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday. KeyCorp cut their target price on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. StockNews.com downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Finally, Bank of America lifted their target price on shares of Boot Barn from $160.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.62.

Boot Barn Stock Up 1.3%

Shares of BOOT opened at $156.99 on Friday. The company has a market capitalization of $4.80 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The firm has a 50 day moving average of $107.05 and a 200 day moving average of $130.08. Boot Barn has a twelve month low of $86.17 and a twelve month high of $176.64.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The firm had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period last year, the business earned $0.96 EPS. Boot Barn’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Boot Barn will post 5.82 EPS for the current year.

Boot Barn declared that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BOOT. Signaturefd LLC lifted its stake in Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 111 shares in the last quarter. Blue Trust Inc. lifted its stake in Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after purchasing an additional 143 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Boot Barn in the 1st quarter worth $29,000. Golden State Wealth Management LLC lifted its stake in Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company’s stock worth $30,000 after purchasing an additional 203 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock worth $34,000 after purchasing an additional 215 shares in the last quarter.

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.