Shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) have earned an average rating of "Buy" from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $173.67.
Several research firms recently commented on BOOT. Piper Sandler lifted their price objective on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Robert W. Baird lifted their price objective on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. KeyCorp reduced their price objective on Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a report on Wednesday, April 23rd.
Get Our Latest Analysis on BOOT
Boot Barn Stock Down 0.7%
Shares of NYSE:BOOT traded down $1.11 on Friday, hitting $163.82. 73,831 shares of the company traded hands, compared to its average volume of 816,437. Boot Barn has a 52 week low of $86.17 and a 52 week high of $176.64. The stock has a 50 day simple moving average of $148.67 and a 200-day simple moving average of $135.16. The company has a market cap of $5.01 billion, a PE ratio of 28.05, a PEG ratio of 1.94 and a beta of 1.69.
Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The company had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. Boot Barn's revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boot Barn will post 5.82 earnings per share for the current year.
Boot Barn declared that its board has authorized a share buyback plan on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.
Insider Transactions at Boot Barn
In other news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider directly owned 14,593 shares of the company's stock, valued at $2,344,657.31. The trade was a 14.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider directly owned 2,112 shares in the company, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Boot Barn by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company's stock valued at $54,439,000 after buying an additional 5,881 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Boot Barn during the 4th quarter valued at about $42,440,000. Oppenheimer Asset Management Inc. lifted its position in shares of Boot Barn by 29.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,731 shares of the company's stock valued at $1,583,000 after buying an additional 3,341 shares in the last quarter. SG Americas Securities LLC bought a new stake in Boot Barn during the 1st quarter valued at approximately $916,000. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Boot Barn by 21.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 17,724 shares of the company's stock valued at $2,691,000 after purchasing an additional 3,162 shares during the period.
Boot Barn Company Profile
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Get Free ReportBoot 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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