Boot Barn (NYSE:BOOT) Stock Price Up 3.6% Following Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) was up 3.6% during trading on Tuesday after Piper Sandler raised their price target on the stock from $94.00 to $110.00. Piper Sandler currently has an overweight rating on the stock. Boot Barn traded as high as $101.72 and last traded at $101.65. 150,101 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 824,698 shares. The stock had previously closed at $98.15.

A number of other research firms have also recently weighed in on BOOT. Williams Trading restated a "hold" rating on shares of Boot Barn in a research note on Tuesday, January 16th. BTIG Research decreased their price target on shares of Boot Barn from $102.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 1st. StockNews.com downgraded shares of Boot Barn from a "hold" rating to a "sell" rating in a research report on Friday, January 19th. B. Riley decreased their target price on Boot Barn from $92.00 to $83.00 and set a "buy" rating on the stock in a research report on Thursday, February 1st. Finally, Robert W. Baird boosted their price target on Boot Barn from $70.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Boot Barn has an average rating of "Moderate Buy" and an average target price of $105.56.

Insider Activity

In related news, CEO James Grant Conroy sold 19,478 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 46,273 shares of the company's stock, valued at $4,274,699.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Boot Barn news, insider Laurie Marie Grijalva sold 5,861 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the completion of the transaction, the insider now directly owns 5,861 shares in the company, valued at $529,306.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Grant Conroy sold 19,478 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the sale, the chief executive officer now directly owns 46,273 shares in the company, valued at approximately $4,274,699.74. The disclosure for this sale can be found here. In the last three months, insiders sold 26,339 shares of company stock worth $2,413,715. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. MA increased its holdings in shares of Boot Barn by 17.1% during the first quarter. Congress Asset Management Co. MA now owns 558,235 shares of the company's stock worth $53,116,000 after buying an additional 81,503 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Boot Barn during the 1st quarter worth $222,000. NBC Securities Inc. increased its holdings in Boot Barn by 11.2% in the 1st quarter. NBC Securities Inc. now owns 9,324 shares of the company's stock worth $887,000 after purchasing an additional 939 shares in the last quarter. Vanguard Group Inc. raised its position in Boot Barn by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company's stock valued at $210,638,000 after purchasing an additional 35,925 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake 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 in the last quarter.

Boot Barn Price Performance

The company has a fifty day moving average price of $91.33 and a two-hundred day moving average price of $80.67. The company has a market capitalization of $3.07 billion, a P/E ratio of 18.85 and a beta of 2.19.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.01. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. The firm had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. As a group, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 4.72 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.