Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Recommendation of “Moderate Buy” from Analysts

Boot Barn Holdings, Inc. (NYSE:BOOT) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $132.09.

Several research analysts have issued reports on the company. Citigroup raised their target price on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. TD Cowen boosted their target price on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. BTIG Research increased their price target on shares of Boot Barn from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Piper Sandler boosted their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, UBS Group cut Boot Barn from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $125.00 in a report on Wednesday.

Boot Barn Stock Up 3.3 %

Shares of NYSE BOOT opened at $122.19 on Friday. The firm’s 50-day moving average price is $124.25 and its 200-day moving average price is $102.31. Boot Barn has a 52-week low of $66.73 and a 52-week high of $134.61. The company has a market cap of $3.73 billion, a PE ratio of 25.46 and a beta of 2.09.

Boot Barn (NYSE:BOOT) last issued its earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.12. The company had revenue of $388.46 million for the quarter, compared to analysts’ expectations of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. As a group, equities research analysts anticipate that Boot Barn will post 4.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael A. Love sold 1,079 shares of the business’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 transaction, the insider now directly owns 2,112 shares of the company’s stock, valued at approximately $232,763.52. 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 Michael A. Love sold 1,079 shares of Boot Barn stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total value of $118,916.59. Following the sale, the insider now directly owns 2,112 shares in the company, valued at approximately $232,763.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brenda I. Morris sold 1,500 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total transaction of $165,165.00. Following the transaction, the director now directly owns 4,546 shares of the company’s stock, valued at approximately $500,560.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,795 shares of company stock worth $1,329,686. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Boot Barn

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Boot Barn by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 259,885 shares of the company’s stock valued at $33,507,000 after purchasing an additional 9,126 shares in the last quarter. EFG Asset Management North America Corp. grew its stake in shares of Boot Barn by 65.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 20,722 shares of the company’s stock worth $2,670,000 after buying an additional 8,199 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of Boot Barn in the 2nd quarter worth about $1,123,000. Tributary Capital Management LLC raised its position in shares of Boot Barn by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 218,817 shares of the company’s stock valued at $28,212,000 after buying an additional 649 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Boot Barn by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock valued at $1,973,000 after acquiring an additional 300 shares during the last quarter.

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.