Boot Barn (NYSE:BOOT) Sets New 12-Month High on Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after BTIG Research raised their price target on the stock from $100.00 to $127.00. BTIG Research currently has a buy rating on the stock. Boot Barn traded as high as $110.32 and last traded at $109.15, with a volume of 18468 shares trading hands. The stock had previously closed at $107.79.

Other research analysts have also recently issued reports about the stock. TD Cowen increased their price target on shares of Boot Barn from $115.00 to $120.00 and gave the company a "buy" rating in a report on Monday. B. Riley lowered their price target on shares of Boot Barn from $92.00 to $83.00 and set a "buy" rating on the stock in a research report on Thursday, February 1st. Williams Trading reissued a "hold" rating on shares of Boot Barn in a report on Tuesday, January 16th. StockNews.com cut shares of Boot Barn from a "hold" rating to a "sell" rating in a report on Friday, January 19th. Finally, Piper Sandler raised their price objective on Boot Barn from $94.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $109.11.

Insider Activity

In other Boot Barn news, Director Gene Eddie Burt sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total value of $85,030.00. Following the completion of the transaction, the director now directly owns 1,542 shares in the company, valued at approximately $131,116.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO James Grant Conroy sold 19,478 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total value of $1,799,377.64. Following the sale, the chief executive officer now directly owns 46,273 shares in the company, valued at $4,274,699.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gene Eddie Burt sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total transaction of $85,030.00. Following the transaction, the director now owns 1,542 shares of the company's stock, valued at approximately $131,116.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,339 shares of company stock valued at $2,413,715. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boot Barn

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Boot Barn by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company's stock valued at $210,638,000 after acquiring an additional 35,925 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company's stock valued at $197,527,000 after purchasing an additional 1,675,410 shares during the period. Wasatch Advisors LP boosted its position in shares of Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company's stock worth $202,830,000 after purchasing an additional 649,021 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Boot Barn by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company's stock valued at $83,425,000 after buying an additional 16,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Boot Barn by 35.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company's stock valued at $53,733,000 after buying an additional 182,130 shares in the last quarter.

Boot Barn Price Performance

The firm has a fifty day simple moving average of $94.25 and a 200-day simple moving average of $82.23. The firm has a market cap of $3.33 billion, a P/E ratio of 20.45 and a beta of 2.19.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.01. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. The business had revenue of $520.40 million during the quarter, compared to the consensus estimate of $520.34 million. On average, equities analysts predict that Boot Barn Holdings, Inc. will post 4.73 earnings per share for the current year.

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.