Benchmark Reaffirms “Buy” Rating for Boot Barn (NYSE:BOOT)

Benchmark restated their buy rating on shares of Boot Barn (NYSE:BOOT) in a report issued on Wednesday morning, Benzinga reports. They currently have a $140.00 price target on the stock.

Several other research firms also recently weighed in on BOOT. Craig Hallum increased their price target on Boot Barn from $120.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. TD Cowen raised their price target on Boot Barn from $120.00 to $145.00 and gave the company a buy rating in a report on Wednesday, June 5th. Robert W. Baird raised their price target on Boot Barn from $132.00 to $140.00 and gave the company a neutral rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Boot Barn from $146.00 to $160.00 and gave the company an overweight rating in a report on Tuesday. Finally, Citigroup raised their price objective on Boot Barn from $122.00 to $154.00 and gave the company a buy rating in a report on Friday, July 19th. One investment 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’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $141.10.

Boot Barn Price Performance

Shares of BOOT stock opened at $154.55 on Wednesday. The business’s 50 day simple moving average is $132.32 and its 200 day simple moving average is $116.19. Boot Barn has a one year low of $66.73 and a one year high of $162.16. The stock has a market capitalization of $4.71 billion, a PE ratio of 32.20 and a beta of 2.11.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $415.04 million. During the same period in the prior year, the firm earned $1.11 earnings per share. Boot Barn’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts expect that Boot Barn will post 5.3 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Boot Barn during the 2nd quarter valued at about $64,000. 1620 Investment Advisors Inc. purchased a new stake in Boot Barn during the 2nd quarter valued at about $84,000. First Horizon Advisors Inc. lifted its holdings in shares of Boot Barn by 11.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock valued at $120,000 after buying an additional 94 shares during the period. Finally, Principal Securities Inc. acquired a new position in Boot Barn in the 4th quarter worth about $102,000.

About Boot Barn

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.