JPMorgan Chase & Co. Boosts Boot Barn (NYSE:BOOT) Price Target to $188.00

Boot Barn (NYSE:BOOT - Get Free Report) had its price target upped by JPMorgan Chase & Co. from $181.00 to $188.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 17.51% from the company's current price.

A number of other equities research analysts have also recently commented on BOOT. Citigroup lowered their price objective on shares of Boot Barn from $194.00 to $178.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Baird R W upgraded Boot Barn from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Robert W. Baird upgraded 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. Williams Trading reissued a "buy" rating and issued a $173.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Finally, Bank of America began coverage on shares of Boot Barn in a report on Tuesday. They set a "buy" rating and a $187.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $167.00.

Boot Barn Trading Down 0.3 %

Shares of NYSE:BOOT traded down $0.42 on Wednesday, reaching $159.99. 624,326 shares of the company were exchanged, compared to its average volume of 702,905. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 32.13 and a beta of 2.10. Boot Barn has a 1-year low of $69.35 and a 1-year high of $169.83. The company has a 50-day moving average of $143.21 and a 200-day moving average of $142.55.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. As a group, analysts forecast that Boot Barn will post 5.48 earnings per share for the current year.

Insider Transactions at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

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