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

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) has received a consensus recommendation of "Buy" from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $173.67.

Several equities 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 stock an "outperform" rating in a research note on Thursday, May 15th. UBS Group boosted their target price 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. increased their target price on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Citigroup lifted their price target on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Piper Sandler boosted their price objective on Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th.

Boot Barn Price Performance

Shares of BOOT stock traded down $0.13 on Wednesday, hitting $162.14. The stock had a trading volume of 89,523 shares, compared to its average volume of 819,970. The business has a 50 day moving average of $127.15 and a 200 day moving average of $133.65. Boot Barn has a 12-month low of $86.17 and a 12-month high of $176.64. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 1.17 and a beta of 1.73.

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 the consensus estimate of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The firm had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. During the same quarter last year, the business posted $0.96 EPS. The company's quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts expect that Boot Barn will post 5.82 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Boot Barn

In other Boot Barn 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 completion of the sale, the insider now owns 14,593 shares of the company's stock, valued at $2,344,657.31. The trade was a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael A. Love sold 4,154 shares of the 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 now owns 2,112 shares in the company, valued at $328,078.08. This trade represents 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Boot Barn by 1.4% in the 1st quarter. Rhumbline Advisers now owns 81,154 shares of the company's stock valued at $8,718,000 after purchasing an additional 1,124 shares in the last quarter. Strs Ohio bought a new stake in Boot Barn in the first quarter worth $193,000. Intech Investment Management LLC boosted its position in Boot Barn by 65.2% during the first quarter. Intech Investment Management LLC now owns 32,728 shares of the company's stock valued at $3,516,000 after buying an additional 12,920 shares during the period. Bayforest Capital Ltd bought a new position in shares of Boot Barn during the first quarter valued at about $48,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Boot Barn by 3.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,390 shares of the company's stock worth $7,777,000 after buying an additional 2,558 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.