Boot Barn (NYSE:BOOT) Price Target Raised to $50.00 at Cowen

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Boot Barn (NYSE:BOOT) had its price objective hoisted by Cowen from $47.00 to $50.00 in a report issued on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Cowen’s price objective points to a potential upside of 12.28% from the company’s current price.

Several other brokerages have also issued reports on BOOT. Craig Hallum started coverage on Boot Barn in a report on Friday, October 4th. They set a “buy” rating and a $46.00 price objective on the stock. ValuEngine raised Boot Barn from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Stephens started coverage on Boot Barn in a report on Tuesday, October 8th. They set an “overweight” rating and a $46.00 price objective on the stock. Pivotal Research reaffirmed a “hold” rating and set a $46.00 price objective (up previously from $40.00) on shares of Boot Barn in a report on Tuesday. Finally, Zacks Investment Research raised Boot Barn from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $43.00.

NYSE:BOOT traded down $1.29 during trading hours on Tuesday, hitting $44.53. The company’s stock had a trading volume of 563,051 shares, compared to its average volume of 588,075. The stock has a market capitalization of $1.31 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 1.53 and a beta of 2.27. The stock has a fifty day moving average of $43.17 and a 200-day moving average of $36.99. The company has a current ratio of 1.14, a quick ratio of 0.12 and a debt-to-equity ratio of 0.91. Boot Barn has a 52-week low of $20.26 and a 52-week high of $48.11.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $187.20 million for the quarter, compared to analyst estimates of $184.13 million. Boot Barn had a return on equity of 16.61% and a net margin of 5.51%. Boot Barn’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, sell-side analysts forecast that Boot Barn will post 1.77 earnings per share for the current year.

In other news, CEO James Grant Conroy sold 33,216 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $41.68, for a total transaction of $1,384,442.88. Also, Director Brenda I. Morris sold 2,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $42.21, for a total transaction of $105,525.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,111 shares of company stock worth $6,084,607. Corporate insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BOOT. BlackRock Inc. boosted its stake in shares of Boot Barn by 114.1% during the second quarter. BlackRock Inc. now owns 4,132,782 shares of the company’s stock worth $147,293,000 after buying an additional 2,202,171 shares during the period. Invesco Ltd. lifted its position in Boot Barn by 130.9% in the second quarter. Invesco Ltd. now owns 1,914,562 shares of the company’s stock valued at $68,234,000 after purchasing an additional 1,085,550 shares during the period. Vanguard Group Inc. lifted its position in Boot Barn by 21.2% in the second quarter. Vanguard Group Inc. now owns 2,587,530 shares of the company’s stock valued at $92,220,000 after purchasing an additional 452,793 shares during the period. Renaissance Technologies LLC lifted its position in Boot Barn by 1,460.8% in the second quarter. Renaissance Technologies LLC now owns 454,200 shares of the company’s stock valued at $16,188,000 after purchasing an additional 425,100 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in Boot Barn in the third quarter valued at about $10,743,000.

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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The Fly

Analyst Recommendations for Boot Barn (NYSE:BOOT)

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