Boot Barn (NYSE:BOOT) Sets New 52-Week High After Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price hit a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $127.00 to $165.00. UBS Group currently has a neutral rating on the stock. Boot Barn traded as high as $169.83 and last traded at $169.61, with a volume of 161586 shares trading hands. The stock had previously closed at $167.10.

BOOT has been the topic of several other reports. Benchmark lifted their price objective on Boot Barn from $140.00 to $192.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird lifted their price target on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Citigroup upped their price target on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Piper Sandler upped their target price on shares of Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Boot Barn currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after purchasing an additional 140 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Boot Barn in the second quarter valued at $64,000. USA Financial Formulas acquired a new position in shares of Boot Barn during the third quarter valued at $92,000. 1620 Investment Advisors Inc. bought a new position in shares of Boot Barn during the second quarter worth about $84,000. Finally, First Horizon Advisors Inc. increased 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 worth $120,000 after acquiring an additional 94 shares during the period.

Boot Barn Trading Up 1.5 %

The stock has a market capitalization of $5.16 billion, a P/E ratio of 34.81 and a beta of 2.12. The company’s 50-day moving average is $150.30 and its two-hundred day moving average is $128.40.

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, topping the consensus estimate of $1.08 by $0.18. The business 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 16.44% and a net margin of 8.89%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.29 EPS for the current fiscal year.

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.