Boot Barn (NYSE:BOOT) Earns "Overweight" Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Boot Barn (NYSE:BOOT - Free Report) in a research note released on Tuesday, Benzinga reports. Piper Sandler currently has a $179.00 price target on the stock.

BOOT has been the topic of a number of other research reports. UBS Group raised their target price on shares of Boot Barn from $127.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Williams Trading restated a "buy" rating and issued a $173.00 price target on shares of Boot Barn in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the company an "overweight" rating in a research note on Tuesday. Craig Hallum downgraded shares of Boot Barn from a "buy" rating to a "hold" rating and upped their target price for the company from $154.00 to $162.00 in a research note on Friday. Finally, Robert W. Baird lifted their price target on shares of Boot Barn from $140.00 to $167.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Boot Barn currently has an average rating of "Moderate Buy" and a consensus price target of $164.55.

Boot Barn Stock Down 19.7 %

Shares of BOOT stock traded down $31.84 on Tuesday, reaching $129.38. 4,701,152 shares of the stock were exchanged, compared to its average volume of 759,672. The stock has a market cap of $3.93 billion, a P/E ratio of 26.95 and a beta of 2.12. The firm has a 50 day moving average of $154.55 and a two-hundred day moving average of $132.38. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in Boot Barn during the third quarter worth $25,000. GAMMA Investing LLC boosted its holdings in shares of Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company's stock valued at $34,000 after buying an additional 140 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Boot Barn during the 2nd quarter valued at about $64,000. 1620 Investment Advisors Inc. acquired a new stake in Boot Barn during the second quarter worth about $84,000. Finally, USA Financial Formulas bought a new position in Boot Barn in the third quarter worth about $92,000.

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.