Boot Barn (NYSE:BOOT) Price Target Raised to $110.00

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

Several other equities analysts have also commented on the company. KeyCorp started coverage on Boot Barn in a report on Wednesday, February 7th. They issued a sector weight rating on the stock. UBS Group raised Boot Barn from a neutral rating to a buy rating and upped their price target for the company from $75.00 to $108.00 in a report on Friday, January 5th. BTIG Research reduced their price objective on shares of Boot Barn from $102.00 to $100.00 and set a buy rating for the company in a research report on Thursday, February 1st. Robert W. Baird increased their target price on shares of Boot Barn from $70.00 to $90.00 and gave the company a neutral rating in a research report on Thursday, March 21st. Finally, B. Riley reduced their price target on shares of Boot Barn from $92.00 to $83.00 and set a buy rating for the company in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Boot Barn presently has an average rating of Moderate Buy and a consensus target price of $105.56.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $99.62 on Tuesday. The stock’s 50-day moving average is $92.18 and its two-hundred day moving average is $81.06. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 18.55 and a beta of 2.19. Boot Barn has a 1-year low of $64.33 and a 1-year high of $104.91.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.01. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. The firm had revenue of $520.40 million for the quarter, compared to analysts’ expectations of $520.34 million. Equities research analysts anticipate that Boot Barn will post 4.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was 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 of the company’s stock, valued at approximately $4,274,699.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Grant Conroy sold 19,478 shares of the firm’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 completion of the sale, the chief executive officer now owns 46,273 shares in the company, valued at approximately $4,274,699.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laurie Marie Grijalva sold 5,861 shares of Boot Barn stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the completion of 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. Insiders have sold a total of 26,339 shares of company stock valued at $2,413,715 over the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Boot Barn

Several hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its position 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 worth $197,527,000 after acquiring an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Boot Barn by 43.8% in the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after purchasing an additional 649,021 shares during the period. Westwood Holdings Group Inc. purchased a new stake in Boot Barn during the fourth quarter worth about $32,361,000. Ameriprise Financial Inc. increased 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 buying an additional 342,539 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Boot Barn during the 3rd quarter valued at approximately $23,028,000.

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.