Boot Barn (NYSE:BOOT) Upgraded by Baird R W to "Strong-Buy" Rating

Boot Barn (NYSE:BOOT - Get Free Report) was upgraded by research analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday, Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Robert W. Baird upgraded shares of Boot Barn from a "neutral" rating to an "outperform" rating and set a $167.00 price objective for the company in a research note on Wednesday. UBS Group raised their price objective 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. BTIG Research raised their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Tuesday. Benchmark restated a "buy" rating and set a $192.00 target price on shares of Boot Barn in a research report on Tuesday. Finally, Craig Hallum cut shares of Boot Barn from a "buy" rating to a "hold" rating and lifted their target price for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $164.55.

Boot Barn Stock Performance

Boot Barn stock traded down $2.65 during midday trading on Wednesday, hitting $124.54. 894,794 shares of the company's stock were exchanged, compared to its average volume of 764,785. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 25.94 and a beta of 2.12. The firm's 50 day simple moving average is $154.30 and its 200 day simple moving average 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 issued its earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $425.80 million for 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%. The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that Boot Barn will post 5.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of BOOT. Capital Research Global Investors purchased a new stake in Boot Barn during the first quarter worth approximately $32,779,000. Janus Henderson Group PLC grew its stake in Boot Barn by 1,212.4% during the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company's stock worth $27,134,000 after buying an additional 263,444 shares during the period. Marshall Wace LLP purchased a new position in shares of Boot Barn in the second quarter valued at $19,532,000. Westwood Holdings Group Inc. boosted its stake in shares of Boot Barn by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company's stock valued at $51,918,000 after purchasing an additional 124,060 shares during the period. Finally, F M Investments LLC purchased a new position in shares of Boot Barn in the second quarter valued at $14,888,000.

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.