Boot Barn (BOOT) Coverage Initiated by Analysts at William Blair

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William Blair initiated coverage on shares of Boot Barn (NYSE:BOOT) in a report released on Tuesday morning, MarketBeat reports. The firm issued an outperform rating on the stock. William Blair also issued estimates for Boot Barn’s Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.22 EPS, FY2020 earnings at $1.40 EPS and FY2021 earnings at $1.78 EPS.

Several other analysts have also recently weighed in on the stock. ValuEngine cut shares of Boot Barn from a strong-buy rating to a buy rating in a research report on Saturday, October 6th. Citigroup lifted their target price on shares of Boot Barn from $28.00 to $33.00 and gave the stock a buy rating in a research report on Friday, September 21st. TheStreet upgraded shares of Boot Barn from a c+ rating to a b rating in a research report on Tuesday, August 28th. Pivotal Research set a $24.00 target price on shares of Boot Barn and gave the stock a hold rating in a research report on Wednesday, August 8th. Finally, Zacks Investment Research upgraded shares of Boot Barn from a hold rating to a buy rating and set a $26.00 target price on the stock in a research report on Tuesday, July 17th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $26.78.

Boot Barn stock opened at $27.13 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.20 and a current ratio of 1.59. The firm has a market cap of $795.36 million, a PE ratio of 38.76, a P/E/G ratio of 1.15 and a beta of 1.84. Boot Barn has a fifty-two week low of $7.37 and a fifty-two week high of $31.61.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $161.98 million for the quarter, compared to analysts’ expectations of $159.57 million. Boot Barn had a net margin of 4.98% and a return on equity of 11.04%. As a group, equities analysts forecast that Boot Barn will post 1.08 earnings per share for the current year.

In other Boot Barn news, insider Laurie Marie Grijalva sold 41,779 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $29.90, for a total value of $1,249,192.10. Following the sale, the insider now owns 18,327 shares of the company’s stock, valued at approximately $547,977.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg Bettinelli sold 4,726 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $26.18, for a total transaction of $123,726.68. Following the completion of the sale, the director now directly owns 12,995 shares in the company, valued at approximately $340,209.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 238,193 shares of company stock worth $6,841,756. 2.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BOOT. Copper Rock Capital Partners LLC bought a new stake in Boot Barn in the 3rd quarter worth $24,187,000. FMR LLC bought a new stake in Boot Barn in the 2nd quarter worth $15,745,000. Millennium Management LLC grew its holdings in Boot Barn by 4,108.2% in the 2nd quarter. Millennium Management LLC now owns 578,631 shares of the company’s stock worth $12,007,000 after acquiring an additional 564,881 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Boot Barn by 33.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,918 shares of the company’s stock worth $30,725,000 after acquiring an additional 435,132 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Boot Barn in the 2nd quarter worth $8,417,000.

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.

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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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