Boot Barn Holdings, Inc. (NYSE:BOOT) Given Average Rating of "Buy" by Brokerages

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) have received a consensus recommendation of "Buy" from the fourteen research firms that are currently covering the firm, MarketBeat reports. 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 company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $170.62.

Several analysts recently commented on the company. Piper Sandler boosted their price target on Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday. Bank of America boosted their price target on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group boosted their price target on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a research note on Wednesday, April 23rd. Finally, Robert W. Baird boosted their price target on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday.

Boot Barn Trading Up 1.3%

Shares of NYSE BOOT opened at $156.99 on Friday. The firm has a market capitalization of $4.80 billion, a PE ratio of 28.03, a PEG ratio of 1.17 and a beta of 1.59. Boot Barn has a one year low of $86.17 and a one year high of $176.64. The business has a 50-day moving average price of $107.05 and a two-hundred day moving average price of $130.02.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The company had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. Research analysts anticipate that Boot Barn will post 5.82 EPS for the current year.

Boot Barn announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Boot Barn

Large investors have recently modified their holdings of the business. Signaturefd LLC increased its holdings in shares of Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 111 shares in the last quarter. Blue Trust Inc. raised its stake in Boot Barn by 1,430.0% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the company's stock valued at $26,000 after buying an additional 143 shares during the period. Opal Wealth Advisors LLC bought a new stake in Boot Barn in the first quarter valued at approximately $29,000. Golden State Wealth Management LLC raised its stake in Boot Barn by 263.6% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after buying an additional 203 shares during the period. Finally, Versant Capital Management Inc raised its stake in Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after buying an additional 215 shares during the period.

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.

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