Boot Barn (NYSE:BOOT) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $65.00 price target on the stock. Zacks Investment Research's price target suggests a potential upside of 19.88% from the stock's previous close.
According to Zacks, "Boot Barn Holdings, Inc. operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. The company's products include boots, denim, western shirts, cowboy hats, belts and belt buckles, and western-style jewellery and accessories; and rugged footwear, outerwear, overalls, denims, and shirts, as well as safety-toe boots, and flame-resistant and high-visibility clothing. It sells its products through bootbarn.com, an e-commerce Website. Boot Barn Holdings, Inc. is headquartered in Irvine, California. "
Several other brokerages also recently commented on BOOT. Craig Hallum raised their price objective on shares of Boot Barn from $34.00 to $48.00 and gave the stock a "hold" rating in a research report on Monday. Smith Barney Citigroup increased their target price on Boot Barn from $30.00 to $37.00 in a report on Thursday, October 29th. Wells Fargo & Company increased their target price on Boot Barn from $49.00 to $57.00 and gave the stock an "overweight" rating in a report on Monday. Cowen increased their target price on Boot Barn from $47.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, 140166 upgraded Boot Barn from a "negative" rating to a "neutral" rating and set a $28.00 target price on the stock in a report on Monday, October 12th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of "Buy" and an average price target of $43.54.
Shares of BOOT stock traded down $2.37 during trading hours on Wednesday, hitting $54.22. 610,952 shares of the company were exchanged, compared to its average volume of 737,019. The firm has a market cap of $1.57 billion, a P/E ratio of 44.08, a P/E/G ratio of 1.83 and a beta of 3.07. Boot Barn has a fifty-two week low of $8.03 and a fifty-two week high of $57.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 1.36. The company has a 50 day simple moving average of $43.01 and a two-hundred day simple moving average of $31.64.
Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $184.52 million during the quarter, compared to the consensus estimate of $179.22 million. Boot Barn had a net margin of 4.45% and a return on equity of 10.57%. As a group, sell-side analysts expect that Boot Barn will post 1.32 EPS for the current fiscal year.
In other news, Director Greg Bettinelli sold 2,620 shares of Boot Barn stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $41.89, for a total transaction of $109,751.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Grant Conroy sold 26,935 shares of Boot Barn stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $45.00, for a total value of $1,212,075.00. Following the sale, the chief executive officer now owns 31,580 shares in the company, valued at $1,421,100. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,307 shares of company stock worth $1,353,599. Company insiders own 1.80% of the company's stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Boot Barn by 1,580.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,210 shares of the company's stock worth $147,000 after acquiring an additional 4,900 shares during the last quarter. US Bancorp DE increased its holdings in Boot Barn by 8.0% in the 3rd quarter. US Bancorp DE now owns 7,512 shares of the company's stock worth $212,000 after acquiring an additional 556 shares during the last quarter. Kirr Marbach & Co. LLC IN purchased a new stake in Boot Barn in the 3rd quarter worth about $219,000. State Board of Administration of Florida Retirement System purchased a new stake in Boot Barn in the 3rd quarter worth about $236,000. Finally, Rothschild Investment Corp IL purchased a new stake in Boot Barn in the 3rd quarter worth about $291,000.
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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