Boot Barn (BOOT) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Boot Barn (NYSE:BOOT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $21.00 price target 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. “
Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Boot Barn from a hold rating to a buy rating in a research note on Friday, February 2nd. Pivotal Research set a $19.00 price target on shares of Boot Barn and gave the stock a hold rating in a research note on Wednesday, January 31st. Robert W. Baird upped their price target on shares of Boot Barn from $11.00 to $13.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. Jefferies Group reaffirmed a buy rating and issued a $20.00 price target on shares of Boot Barn in a research note on Monday, December 18th. Finally, JPMorgan Chase & Co. raised shares of Boot Barn from a neutral rating to an overweight rating and upped their price target for the stock from $9.00 to $17.00 in a research note on Sunday, November 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $17.75.
Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, January 31st. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Boot Barn had a net margin of 3.67% and a return on equity of 9.55%. The company had revenue of $224.70 million for the quarter, compared to the consensus estimate of $225.00 million. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was up 12.7% on a year-over-year basis. equities research analysts anticipate that Boot Barn will post 0.7 earnings per share for the current year.
In other Boot Barn news, insider Fs Capital Partners Vi, Llc sold 6,413,616 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $17.25, for a total transaction of $110,634,876.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Grant Conroy sold 178,773 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $17.25, for a total transaction of $3,083,834.25. Following the transaction, the chief executive officer now directly owns 182,580 shares in the company, valued at $3,149,505. The disclosure for this sale can be found here. Insiders have sold 6,643,581 shares of company stock worth $114,601,772 over the last three months. Company insiders own 4.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BOOT. BlueCrest Capital Management Ltd bought a new stake in Boot Barn during the second quarter valued at about $116,000. Cubist Systematic Strategies LLC bought a new stake in Boot Barn during the third quarter valued at about $151,000. The Manufacturers Life Insurance Company boosted its holdings in Boot Barn by 811.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,908 shares of the company’s stock valued at $165,000 after acquiring an additional 8,821 shares during the period. Teachers Advisors LLC boosted its holdings in Boot Barn by 7.1% during the second quarter. Teachers Advisors LLC now owns 28,080 shares of the company’s stock valued at $199,000 after acquiring an additional 1,858 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Boot Barn by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 42,544 shares of the company’s stock valued at $302,000 after acquiring an additional 228 shares during the period.
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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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