Boot Barn (NYSE:BOOT) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Boot Barn (NYSE:BOOT - Free Report) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat Ratings reports. They currently have $210.00 target price on the stock, up from their previous target price of $155.00.

Other equities research analysts have also recently issued reports about the company. Craig Hallum cut Boot Barn from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $154.00 to $162.00 in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $181.00 to $188.00 and gave the stock an "overweight" rating in a report on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $179.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Baird R W upgraded Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Finally, Williams Trading restated a "buy" rating and set a $173.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boot Barn presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

Boot Barn Stock Performance

Shares of Boot Barn stock traded down $4.39 on Friday, hitting $155.95. The company's stock had a trading volume of 886,311 shares, compared to its average volume of 733,408. Boot Barn has a 1 year low of $69.35 and a 1 year high of $169.83. The firm has a fifty day moving average price of $143.92 and a 200-day moving average price of $142.67. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 31.32 and a beta of 2.10.

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

Insider Activity at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the sale, the chief executive officer now owns 3,937 shares of the company's stock, valued at $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of Boot Barn by 1.9% during the second quarter. Arizona State Retirement System now owns 8,483 shares of the company's stock worth $1,094,000 after acquiring an additional 160 shares during the period. Choreo LLC purchased a new stake in shares of Boot Barn during the second quarter worth $213,000. Texas Permanent School Fund Corp increased its position in shares of Boot Barn by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 26,677 shares of the company's stock worth $3,439,000 after acquiring an additional 158 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in shares of Boot Barn during the second quarter worth $263,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Boot Barn by 22.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 22,223 shares of the company's stock worth $2,865,000 after acquiring an additional 4,146 shares during the period.

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.