Bank of America Begins Coverage on Boot Barn (NYSE:BOOT)

Bank of America assumed coverage on shares of Boot Barn (NYSE:BOOT - Free Report) in a research note issued to investors on Tuesday morning. The brokerage issued a buy rating and a $187.00 target price on the stock.

A number of other brokerages also recently issued reports on BOOT. Baird R W raised shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Robert W. Baird upgraded shares of Boot Barn from a "neutral" rating to an "outperform" rating and set a $167.00 target price on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Boot Barn from $160.00 to $181.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. BTIG Research raised their price target on Boot Barn from $165.00 to $185.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Finally, UBS Group upped their price objective on Boot Barn from $127.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $166.42.

Boot Barn Price Performance

Boot Barn stock traded up $2.50 during mid-day trading on Tuesday, reaching $160.38. The stock had a trading volume of 749,330 shares, compared to its average volume of 722,557. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 32.20 and a beta of 2.10. Boot Barn has a one year low of $69.35 and a one year high of $169.83. The company has a 50-day moving average price of $142.56 and a two-hundred day moving average price of $142.42.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter last year, the firm earned $0.91 earnings per share. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts anticipate that Boot Barn will post 5.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently added to or reduced their stakes in BOOT. GHP Investment Advisors Inc. purchased a new stake in shares of Boot Barn during the 3rd quarter worth approximately $25,000. Canada Pension Plan Investment Board bought a new stake in Boot Barn in the second quarter worth $64,000. GAMMA Investing LLC raised its stake in Boot Barn by 100.8% during the third quarter. GAMMA Investing LLC now owns 534 shares of the company's stock valued at $89,000 after purchasing an additional 268 shares in the last quarter. USA Financial Formulas bought a new position in Boot Barn during the third quarter valued at $92,000. Finally, KBC Group NV grew its stake in shares of Boot Barn by 23.3% in the 3rd quarter. KBC Group NV now owns 951 shares of the company's stock worth $159,000 after buying an additional 180 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.