Boot Barn (NYSE:BOOT) Stock Keeps Buy Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Boot Barn and set a $195 price target, implying 48.9% upside from the stock’s current price.
• Analyst sentiment is broadly positive: 12 analysts rate the shares Buy and two rate them Hold, for a consensus “Moderate Buy” rating and $183.92 average price target.
• In its latest quarter, Boot Barn reported EPS of $1.73, beating the $1.63 estimate, while revenue rose 15.1% year over year to $581.81 million.

Boot Barn (NYSE:BOOT - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at BTIG Research in a research note issued to investors on Monday, Benzinga reports. They presently have a $195.00 target price on the stock. BTIG Research's target price indicates a potential upside of 48.90% from the company's current price.

Several other equities research analysts have also commented on the company. Jefferies Financial Group restated a "buy" rating and issued a $175.00 price objective on shares of Boot Barn in a research note on Friday, October 30th. TD Cowen cut their price target on Boot Barn from $160.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, October 29th. UBS Group reduced their price target on Boot Barn from $232.00 to $194.00 and set a "buy" rating for the company in a research report on Thursday, October 29th. Weiss Ratings raised Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $225.00 price objective on shares of Boot Barn in a research note on Thursday, October 29th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and a consensus price target of $183.92.

Boot Barn Trading Up 0.0%

Shares of NYSE BOOT opened at $130.96 on Monday. The firm has a 50 day moving average of $128.83 and a 200 day moving average of $156.99. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.72. Boot Barn has a 12-month low of $110.53 and a 12-month high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.10. Boot Barn had a net margin of 10.45% and a return on equity of 18.82%. The business had revenue of $581.81 million for the quarter, compared to the consensus estimate of $580.80 million. During the same period last year, the firm earned $1.37 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts predict that Boot Barn will post 8.93 EPS for the current year.

Institutional Trading of Boot Barn

Several institutional investors and hedge funds have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Boot Barn by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 16,031 shares of the company's stock valued at $1,931,000 after purchasing an additional 75 shares in the last quarter. Richardson Financial Services Inc. raised its stake in Boot Barn by 53.5% during the third quarter. Richardson Financial Services Inc. now owns 284 shares of the company's stock valued at $34,000 after purchasing an additional 99 shares in the last quarter. CoreCap Advisors LLC raised its stake in Boot Barn by 85.8% during the third quarter. CoreCap Advisors LLC now owns 223 shares of the company's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Parallel Advisors LLC raised its stake in Boot Barn by 24.5% during the third quarter. Parallel Advisors LLC now owns 636 shares of the company's stock valued at $77,000 after purchasing an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Boot Barn by 8.7% during the third quarter. GAMMA Investing LLC now owns 1,578 shares of the company's stock valued at $190,000 after purchasing an additional 126 shares during the last quarter.

About Boot Barn

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