Boot Barn (NYSE:BOOT) Price Target Raised to $209.00

Boot Barn (NYSE:BOOT) had its price objective increased by analysts at JPMorgan Chase & Co. from $200.00 to $209.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 25.39% from the company’s previous close.

A number of other equities research analysts also recently commented on BOOT. Citigroup reduced their target price on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Thursday, January 23rd. UBS Group upgraded Boot Barn from a “neutral” rating to a “buy” rating and lifted their price target for the company from $155.00 to $210.00 in a research note on Friday, January 10th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a report on Wednesday, October 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $174.77.

Boot Barn Trading Down 4.5 %

Shares of NYSE BOOT traded down $7.84 during midday trading on Friday, reaching $166.68. The company had a trading volume of 1,370,004 shares, compared to its average volume of 858,365. The business’s 50-day simple moving average is $152.95 and its 200 day simple moving average is $146.29. The stock has a market cap of $5.09 billion, a P/E ratio of 33.57, a P/E/G ratio of 1.57 and a beta of 2.10. Boot Barn has a 1 year low of $71.54 and a 1 year high of $176.64.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. Analysts predict that Boot Barn will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Trust Point Inc. raised its stake in shares of Boot Barn by 0.8% in the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after acquiring an additional 71 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Boot Barn by 3.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock worth $382,000 after purchasing an additional 82 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Boot Barn by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after buying an additional 83 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Boot Barn by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock worth $2,247,000 after purchasing an additional 100 shares during the last quarter. Finally, OLD National Bancorp IN lifted its position in shares of Boot Barn by 6.2% in the 4th quarter. OLD National Bancorp IN now owns 2,230 shares of the company’s stock worth $339,000 after buying an additional 130 shares during the last quarter.

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.