Boot Barn (NYSE:BOOT) Price Target Lowered to $178.00 at Citigroup

Boot Barn (NYSE:BOOT - Get Free Report) had its price target cut by stock analysts at Citigroup from $194.00 to $178.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 37.58% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Robert W. Baird upped their price target on Boot Barn from $140.00 to $167.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. Piper Sandler upped their price target on Boot Barn from $147.00 to $179.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Craig Hallum downgraded Boot Barn from a "buy" rating to a "hold" rating and upped their price target for the stock from $154.00 to $162.00 in a research report on Friday. UBS Group upped their price target on Boot Barn from $127.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on Boot Barn from $160.00 to $181.00 and gave the stock an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.55.

Boot Barn Stock Performance

NYSE:BOOT traded down $31.84 during trading hours on Tuesday, reaching $129.38. The company's stock had a trading volume of 4,701,152 shares, compared to its average volume of 759,672. The company has a market capitalization of $3.93 billion, a P/E ratio of 27.08 and a beta of 2.12. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83. The stock has a 50 day moving average price of $154.70 and a two-hundred day moving average price of $132.17.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. Boot Barn's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, analysts predict that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several hedge funds have recently added to or reduced their stakes in BOOT. Trust Point Inc. boosted its stake in shares of Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company's stock worth $1,524,000 after acquiring an additional 71 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Boot Barn by 11.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company's stock worth $120,000 after acquiring an additional 94 shares in the last quarter. Shaker Investments LLC OH boosted its stake in shares of Boot Barn by 1.6% during the 2nd quarter. Shaker Investments LLC OH now owns 6,452 shares of the company's stock worth $832,000 after acquiring an additional 102 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Boot Barn by 9.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,461 shares of the company's stock worth $188,000 after acquiring an additional 126 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. boosted its stake in shares of Boot Barn by 1.4% during the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 10,209 shares of the company's stock worth $1,316,000 after acquiring an additional 136 shares in 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.