Boot Barn (NYSE:BOOT) Raised to Outperform at Robert W. Baird

Boot Barn (NYSE:BOOT - Get Free Report) was upgraded by analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research note issued on Wednesday, MarketBeat reports. The brokerage currently has a $167.00 price objective on the stock. Robert W. Baird's target price would suggest a potential upside of 31.37% from the stock's current price.

A number of other brokerages have also weighed in on BOOT. UBS Group upped their price target on shares of Boot Barn from $127.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Boot Barn from $160.00 to $181.00 and gave the stock an "overweight" rating in a report on Tuesday. BTIG Research upped their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the stock a "buy" rating in a report on Tuesday. Craig Hallum cut shares of Boot Barn from a "buy" rating to a "hold" rating and upped their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. Finally, Benchmark reiterated a "buy" rating and issued a $192.00 price objective on shares of Boot Barn in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $164.55.

Boot Barn Stock Performance

Boot Barn stock traded down $2.26 during trading on Wednesday, reaching $127.12. The company had a trading volume of 1,701,095 shares, compared to its average volume of 764,165. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 26.48 and a beta of 2.12. The stock's 50 day moving average price is $154.30 and its two-hundred day moving average price is $132.35. Boot Barn has a 12-month low of $66.73 and a 12-month high of $169.83.

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

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently bought and sold shares of BOOT. Trust Point Inc. grew its stake in shares of Boot Barn by 0.8% in the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company's stock valued at $1,524,000 after purchasing an additional 71 shares during the period. First Horizon Advisors Inc. raised its stake in Boot Barn by 11.2% during the second 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 lifted its holdings in shares of Boot Barn by 1.6% during the second quarter. Shaker Investments LLC OH now owns 6,452 shares of the company's stock valued at $832,000 after acquiring an additional 102 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Boot Barn by 9.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,461 shares of the company's stock valued at $188,000 after purchasing an additional 126 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. boosted its stake in shares of Boot Barn by 1.4% in the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 10,209 shares of the company's stock valued at $1,316,000 after purchasing an additional 136 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.