UBS Group Increases Boot Barn (NYSE:BOOT) Price Target to $127.00

Boot Barn (NYSE:BOOT) had its price target hoisted by investment analysts at UBS Group from $125.00 to $127.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential downside of 5.14% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird boosted their target price on Boot Barn from $132.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Boot Barn in a report on Tuesday. Piper Sandler upped their price objective on Boot Barn from $144.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday. BTIG Research upped their price objective on Boot Barn from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, TD Cowen upped their price objective on Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.36.

Boot Barn Stock Up 1.6 %

BOOT traded up $2.17 during trading on Thursday, hitting $133.88. The company’s stock had a trading volume of 919,647 shares, compared to its average volume of 816,174. The firm’s 50 day moving average price is $127.00 and its two-hundred day moving average price is $106.63. Boot Barn has a 12 month low of $66.73 and a 12 month high of $137.48. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 27.89 and a beta of 2.09.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. The firm had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. On average, sell-side analysts forecast that Boot Barn will post 5.03 earnings per share for the current year.

Insider Buying and Selling

In other Boot Barn news, insider Michael A. Love sold 1,079 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total value of $118,916.59. Following the sale, the insider now owns 2,112 shares in the company, valued at $232,763.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael A. Love sold 1,079 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total transaction of $118,916.59. Following the transaction, the insider now owns 2,112 shares in the company, valued at $232,763.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Hazen sold 3,563 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $113.21, for a total value of $403,367.23. Following the transaction, the insider now owns 1,309 shares in the company, valued at approximately $148,191.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,795 shares of company stock worth $1,329,686. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

A number of large investors have recently added to or reduced their stakes in BOOT. Wellington Management Group LLP grew its position in Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after buying an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Boot Barn by 43.8% in the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after purchasing an additional 649,021 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Boot Barn in the 4th quarter valued at $32,361,000. Capital Research Global Investors acquired a new stake in shares of Boot Barn in the 1st quarter valued at $32,779,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Boot Barn by 1,212.4% in the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after purchasing an additional 263,444 shares in the last quarter.

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.