Boot Barn (NYSE:BOOT) Trading Up 3.6% Following Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT) shares rose 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. Approximately 150,101 shares traded hands during trading, a decline of 82% from the average daily volume of 824,698 shares. The stock had previously closed at $98.15.

BOOT has been the topic of several other reports. Robert W. Baird boosted their price target on shares of Boot Barn from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Williams Trading restated a “hold” rating on shares of Boot Barn in a report on Tuesday, January 16th. B. Riley cut their price objective on Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Finally, KeyCorp started coverage on Boot Barn in a report on Wednesday, February 7th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and an average price target of $105.56.

Insider Transactions at Boot Barn

In other Boot Barn news, Director Gene Eddie Burt sold 1,000 shares of the firm’s 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 transaction, the director now owns 1,542 shares in the company, valued at $131,116.26. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Gene Eddie Burt sold 1,000 shares of the firm’s 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 owns 1,542 shares of the company’s stock, valued at $131,116.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 5,861 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was 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 in the company, valued at approximately $529,306.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,339 shares of company stock worth $2,413,715. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of BOOT. Jump Financial LLC bought a new position in Boot Barn in the third quarter valued at approximately $1,688,000. Schonfeld Strategic Advisors LLC grew its stake in Boot Barn by 410.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 14,300 shares of the company’s stock valued at $1,161,000 after purchasing an additional 11,500 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Boot Barn in the third quarter valued at approximately $8,486,000. Boston Partners bought a new position in Boot Barn in the third quarter valued at approximately $648,000. Finally, Congress Asset Management Co. MA grew its stake in Boot Barn by 10.6% in the third quarter. Congress Asset Management Co. MA now owns 402,526 shares of the company’s stock valued at $32,681,000 after purchasing an additional 38,704 shares in the last quarter.

Boot Barn Stock Up 3.6 %

The stock has a 50 day simple moving average of $90.93 and a two-hundred day simple moving average of $80.53. The stock has a market capitalization of $3.08 billion, a P/E ratio of 18.28 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.80 by $0.01. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. The company had revenue of $520.40 million during the quarter, compared to the consensus estimate of $520.34 million. Sell-side analysts predict that Boot Barn Holdings, Inc. will post 4.72 earnings per share for the current fiscal year.

Boot Barn Company Profile

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.