Boot Barn Holdings, Inc. (NYSE:BOOT) Receives $103.78 Average PT from Analysts

Boot Barn Holdings, Inc. (NYSE:BOOT) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $105.56.

A number of research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday. Williams Trading reiterated a “hold” rating on shares of Boot Barn in a research note on Tuesday, January 16th. KeyCorp assumed coverage on shares of Boot Barn in a research note on Wednesday, February 7th. They issued a “sector weight” rating on the stock. B. Riley lowered their target price on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Finally, StockNews.com lowered shares of Boot Barn from a “hold” rating to a “sell” rating in a research note on Friday, January 19th.

Boot Barn Trading Up 3.1 %

Boot Barn stock opened at $101.24 on Friday. The company has a market capitalization of $3.07 billion, a P/E ratio of 18.85 and a beta of 2.19. The firm’s fifty day simple moving average is $91.33 and its 200-day simple moving average is $80.67. Boot Barn has a 1-year low of $64.33 and a 1-year high of $104.91.

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

Insider Activity

In other news, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $85.03, for a total transaction of $85,030.00. Following the sale, the director now directly owns 1,542 shares in the company, valued at approximately $131,116.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, 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 transaction, the insider now directly owns 5,861 shares of the company’s stock, valued at approximately $529,306.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gene Eddie Burt sold 1,000 shares of the business’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 completion of the transaction, the director now directly owns 1,542 shares of the company’s stock, valued at $131,116.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,339 shares of company stock worth $2,413,715. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors have recently modified their holdings of the stock. Creative Planning raised its stake in shares of Boot Barn by 4.3% in the fourth quarter. Creative Planning now owns 3,091 shares of the company’s stock worth $237,000 after acquiring an additional 127 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Boot Barn by 1.7% in the third quarter. Arizona State Retirement System now owns 8,516 shares of the company’s stock worth $691,000 after acquiring an additional 142 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Boot Barn by 0.5% in the fourth quarter. Natixis Advisors L.P. now owns 32,608 shares of the company’s stock worth $2,502,000 after acquiring an additional 149 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Boot Barn by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,637 shares of the company’s stock worth $356,000 after acquiring an additional 153 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Boot Barn by 3.7% during the first quarter. US Bancorp DE now owns 4,478 shares of the company’s stock worth $425,000 after buying an additional 161 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.