Boot Barn Holdings, Inc. (NYSE:BOOT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $164.55.

BOOT has been the subject of a number of research reports. UBS Group lifted their price target on shares of Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Citigroup reduced their price target on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On Boot Barn

A number of large investors have recently modified their holdings of BOOT. GHP Investment Advisors Inc. acquired a new stake in Boot Barn during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its position in shares of Boot Barn by 111.1% in the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn in the 2nd quarter valued at $64,000. 1620 Investment Advisors Inc. acquired a new position in shares of Boot Barn during the 2nd quarter valued at $84,000. Finally, USA Financial Formulas purchased a new stake in Boot Barn during the 3rd quarter worth $92,000.

Boot Barn Price Performance

Shares of BOOT stock opened at $136.23 on Friday. The business’s fifty day moving average price is $150.87 and its 200 day moving average price is $136.47. The firm has a market capitalization of $4.16 billion, a PE ratio of 27.36 and a beta of 2.16. Boot Barn has a 1-year low of $68.37 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The business had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. During the same period in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts expect that Boot Barn will post 5.48 earnings per share 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.