Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Rating of "Buy" from Analysts

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) has received a consensus recommendation of "Buy" from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $173.67.

Several analysts have recently weighed in on BOOT shares. Robert W. Baird lifted their target price on shares of Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. KeyCorp decreased their price objective on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. UBS Group upped their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Citigroup upped their price target on shares of Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th.

Insider Buying and Selling

In other news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the transaction, the insider owned 2,112 shares of the company's stock, valued at $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction that occurred on 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. This trade represents a 14.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of BOOT. Signaturefd LLC increased its position in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 111 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Boot Barn during the first quarter worth approximately $29,000. Golden State Wealth Management LLC increased its position in Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after purchasing an additional 203 shares during the last quarter. Versant Capital Management Inc increased its position in Boot Barn by 210.8% during the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after purchasing an additional 215 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Boot Barn during the first quarter worth approximately $44,000.

Boot Barn Trading Down 1.3%

NYSE:BOOT traded down $2.21 during midday trading on Friday, hitting $162.72. 692,229 shares of the company were exchanged, compared to its average volume of 818,837. The company has a fifty day simple moving average of $148.67 and a 200 day simple moving average of $135.16. Boot Barn has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The company has a market capitalization of $4.98 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). The business had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, equities research analysts expect that Boot Barn will post 5.82 EPS for the current year.

Boot Barn declared that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

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.