Boot Barn (NYSE:BOOT) Stock Rating Upgraded by Baird R W

by · The Cerbat Gem

Boot Barn (NYSE:BOOT – Get Free Report) was upgraded by equities researchers at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

A number of other analysts have also commented on the stock. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. BTIG Research lifted their target price on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a report on Wednesday. Finally, UBS Group upped their price objective on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

View Our Latest Research Report on Boot Barn

Boot Barn Stock Down 1.7 %

Shares of NYSE BOOT opened at $127.12 on Wednesday. The firm has a market cap of $3.86 billion, a P/E ratio of 26.48 and a beta of 2.12. Boot Barn has a twelve month low of $66.73 and a twelve month high of $169.83. The company has a 50 day moving average of $154.30 and a 200 day moving average of $132.35.

Boot Barn (NYSE:BOOT – Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The firm had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. As a group, equities analysts expect that Boot Barn will post 5.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Large investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its stake in shares of Boot Barn by 29.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after buying an additional 124,060 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Boot Barn by 19.6% in the first quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock worth $50,513,000 after acquiring an additional 86,969 shares during the period. Capital Research Global Investors purchased a new stake in shares of Boot Barn during the first quarter worth about $32,779,000. Janus Henderson Group PLC raised its stake in Boot Barn by 1,212.4% during the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after purchasing an additional 263,444 shares during the period. Finally, Summit Creek Advisors LLC raised its stake in Boot Barn by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 262,262 shares of the company’s stock valued at $24,954,000 after purchasing an additional 1,789 shares during the period.

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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