Boot Barn (NYSE:BOOT) Given New $110.00 Price Target at Piper Sandler

Boot Barn (NYSE:BOOT) had its price objective raised by Piper Sandler from $94.00 to $110.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on BOOT. Robert W. Baird boosted their target price on shares of Boot Barn from $70.00 to $90.00 and gave the company a neutral rating in a report on Thursday, March 21st. StockNews.com downgraded shares of Boot Barn from a hold rating to a sell rating in a report on Friday, January 19th. BTIG Research lowered their target price on shares of Boot Barn from $102.00 to $100.00 and set a buy rating for the company in a report on Thursday, February 1st. B. Riley lowered their target price on shares of Boot Barn from $92.00 to $83.00 and set a buy rating for the company in a report on Thursday, February 1st. Finally, Williams Trading restated a hold rating on shares of Boot Barn in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $105.56.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $101.24 on Tuesday. The company has a market cap of $3.07 billion, a PE ratio of 18.85 and a beta of 2.19. Boot Barn has a 12 month low of $64.33 and a 12 month high of $104.91. The company has a 50-day simple moving average of $91.33 and a 200-day simple moving average of $80.67.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. The business 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 anticipate that Boot Barn will post 4.72 EPS for the current year.

Insider Transactions at Boot Barn

In other news, CEO James Grant Conroy sold 19,478 shares of the business’s stock in a transaction on 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 transaction, 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 at the SEC website. In related news, insider Laurie Marie Grijalva sold 5,861 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total value of $529,306.91. Following the sale, the insider now directly owns 5,861 shares of the company’s stock, valued at $529,306.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,799,377.64. Following the completion of the sale, the chief executive officer now directly owns 46,273 shares in the company, valued at $4,274,699.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,339 shares of company stock valued at $2,413,715. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Several institutional investors have recently added to or reduced their stakes in BOOT. Wellington Management Group LLP raised its holdings in Boot Barn by 186.6% in the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after acquiring an additional 1,675,410 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Boot Barn in the fourth quarter valued at $32,361,000. Ameriprise Financial Inc. raised its holdings in Boot Barn by 107.0% in the first quarter. Ameriprise Financial Inc. now owns 662,669 shares of the company’s stock valued at $50,787,000 after acquiring an additional 342,539 shares in the last quarter. American Century Companies Inc. bought a new stake in Boot Barn during the third quarter valued at $23,028,000. Finally, Goldman Sachs Group Inc. increased its stake in Boot Barn by 191.4% during the second quarter. Goldman Sachs Group Inc. now owns 326,859 shares of the company’s stock valued at $22,524,000 after purchasing an additional 214,704 shares during 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.