Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Boot Barn Holdings, Inc. (NYSE:BOOTGet Free Report) have been assigned an average recommendation of “Buy” from the thirteen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $173.67.

BOOT has been the topic of several analyst reports. Stephens initiated coverage on Boot Barn in a report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 target price on the stock. Citigroup upped their price target on shares of Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. UBS Group increased their price objective on shares of Boot Barn from $156.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Finally, Piper Sandler upped their target price on shares of Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th.

Check Out Our Latest Stock Analysis on Boot Barn

Insider Activity

In other Boot Barn news, insider Michael A. Love sold 4,154 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider now owns 2,112 shares of the company’s stock, valued at approximately $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the transaction, the insider now directly owns 14,593 shares in the company, valued at $2,344,657.31. The trade was a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its position in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock valued at $25,000 after buying an additional 111 shares during the period. Blue Trust Inc. boosted its stake in shares of Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after acquiring an additional 143 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Boot Barn during the 1st quarter valued at $29,000. Golden State Wealth Management LLC grew its position in shares of Boot Barn by 263.6% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company’s stock valued at $30,000 after acquiring an additional 203 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of 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.

Boot Barn Stock Performance

Shares of BOOT opened at $162.18 on Wednesday. Boot Barn has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The firm’s 50-day simple moving average is $125.85 and its two-hundred day simple moving average is $133.45. The stock has a market cap of $4.96 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.17 and a beta of 1.73.

Boot Barn (NYSE:BOOTGet Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The company had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Equities research analysts predict that Boot Barn will post 5.82 EPS for the current year.

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

About Boot Barn

(Get Free Report

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.

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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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