Boot Barn (NYSE:BOOT) Trading 3.6% Higher After Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT) traded up 3.6% during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $94.00 to $110.00. Piper Sandler currently has an overweight rating on the stock. Boot Barn traded as high as $101.72 and last traded at $101.65. 150,101 shares were traded during mid-day trading, a decline of 82% from the average session volume of 824,698 shares. The stock had previously closed at $98.15.

A number of other equities analysts also recently issued reports on BOOT. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. UBS Group raised Boot Barn from a “neutral” rating to a “buy” rating and upped their price target for the stock from $75.00 to $108.00 in a research report on Friday, January 5th. Robert W. Baird upped their price target on Boot Barn from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. BTIG Research reduced their price target on Boot Barn from $102.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Finally, B. Riley reduced their price target on Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.56.

Insider Activity at Boot Barn

In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $92.38, for a total value of $1,799,377.64. Following the sale, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at $4,274,699.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the sale, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gene Eddie Burt sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $85.03, for a total transaction of $85,030.00. Following the sale, the director now directly owns 1,542 shares in the company, valued at $131,116.26. The disclosure for this sale can be found here. Insiders have sold a total of 26,339 shares of company stock valued at $2,413,715 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BOOT. State of Wyoming raised its holdings in Boot Barn by 57.3% in the 2nd quarter. State of Wyoming now owns 552 shares of the company’s stock valued at $47,000 after acquiring an additional 201 shares during the last quarter. Headlands Technologies LLC raised its holdings in Boot Barn by 1,037.7% in the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock valued at $60,000 after acquiring an additional 716 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Boot Barn in the 1st quarter valued at about $68,000. Principal Securities Inc. acquired a new stake in Boot Barn in the 4th quarter valued at about $102,000. Finally, Lazard Asset Management LLC raised its holdings in Boot Barn by 75.3% in the 4th quarter. Lazard Asset Management LLC now owns 1,686 shares of the company’s stock valued at $105,000 after acquiring an additional 724 shares during the last quarter.

Boot Barn Trading Up 3.1 %

The company has a market cap of $3.07 billion, a price-to-earnings ratio of 18.85 and a beta of 2.19. The stock’s fifty day simple moving average is $91.33 and its 200 day simple moving average is $80.67.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. The company had revenue of $520.40 million during the quarter, compared to the consensus estimate of $520.34 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. On average, analysts predict that Boot Barn Holdings, Inc. will post 4.72 EPS for the current year.

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.