Zacks Investment Research upgraded shares of Boot Barn (NYSE:BOOT) from a hold rating to a buy rating in a report released on Monday. The firm currently has $21.00 price objective on the stock.
According to Zacks, “Boot Barn Holdings, Inc. operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. The company’s products include boots, denim, western shirts, cowboy hats, belts and belt buckles, and western-style jewellery and accessories; and rugged footwear, outerwear, overalls, denims, and shirts, as well as safety-toe boots, and flame-resistant and high-visibility clothing. It sells its products through bootbarn.com, an e-commerce Website. Boot Barn Holdings, Inc. is headquartered in Irvine, California. “
A number of other analysts also recently weighed in on the company. ValuEngine upgraded Boot Barn from a hold rating to a buy rating in a report on Friday, February 2nd. Robert W. Baird restated a buy rating and issued a $24.00 price objective on shares of Boot Barn in a report on Thursday, February 1st. Pivotal Research set a $19.00 price objective on Boot Barn and gave the company a hold rating in a report on Wednesday, January 31st. Wells Fargo & Co set a $20.00 price target on Boot Barn and gave the stock a hold rating in a report on Thursday, January 11th. Finally, Jefferies Group reiterated a buy rating and set a $20.00 price target on shares of Boot Barn in a report on Monday, December 18th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $17.75.
Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $224.70 million during the quarter, compared to the consensus estimate of $225.00 million. Boot Barn had a return on equity of 9.55% and a net margin of 3.67%. Boot Barn’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. equities analysts anticipate that Boot Barn will post 0.7 EPS for the current fiscal year.
In other news, insider Laurie Marie Grijalva sold 12,387 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $18.50, for a total value of $229,159.50. Following the completion of the sale, the insider now directly owns 19,635 shares in the company, valued at approximately $363,247.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Fs Capital Partners Vi, Llc sold 6,413,616 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $17.25, for a total value of $110,634,876.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,682,831 shares of company stock valued at $115,327,897. Company insiders own 4.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new stake in shares of Boot Barn in the 4th quarter valued at about $673,000. Stephens Investment Management Group LLC grew its stake in shares of Boot Barn by 15.7% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,568,993 shares of the company’s stock valued at $13,964,000 after buying an additional 213,405 shares during the period. Northern Trust Corp grew its stake in shares of Boot Barn by 7.9% in the 2nd quarter. Northern Trust Corp now owns 345,576 shares of the company’s stock valued at $2,447,000 after buying an additional 25,191 shares during the period. GMT Capital Corp acquired a new stake in shares of Boot Barn in the 3rd quarter valued at about $3,492,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Boot Barn in the 3rd quarter valued at about $1,261,000.
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Boot Barn Company Profile
Boot Barn Holdings, Inc is a lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company’s stores are located in or near neighborhood shopping centers with trade areas of approximately five or more miles, and it has opened stores in malls and outlet center locations.
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