Boot Barn (NYSE:BOOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $35.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.20% from the company’s current price.

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 analysts have also recently issued reports about the stock. ValuEngine raised shares of Boot Barn from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Sidoti assumed coverage on shares of Boot Barn in a report on Thursday, March 14th. They set a “buy” rating for the company. Pivotal Research reissued a “buy” rating and issued a $28.00 target price on shares of Boot Barn in a research report on Wednesday, February 6th. JPMorgan Chase & Co. cut their target price on shares of Boot Barn from $34.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 7th. Finally, Wells Fargo & Co reduced their price target on shares of Boot Barn from $29.00 to $19.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $28.22.

BOOT stock traded down $0.77 during trading on Tuesday, reaching $30.12. The stock had a trading volume of 1,173,959 shares, compared to its average volume of 895,489. Boot Barn has a 1-year low of $15.01 and a 1-year high of $32.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.62 and a quick ratio of 0.40. The firm has a market capitalization of $878.23 million, a P/E ratio of 43.03, a P/E/G ratio of 0.99 and a beta of 2.31.

Boot Barn (NYSE:BOOT) last announced its earnings results on Tuesday, February 5th. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. Boot Barn had a return on equity of 13.54% and a net margin of 4.93%. The company had revenue of $254.00 million during the quarter, compared to the consensus estimate of $254.55 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that Boot Barn will post 1.2 EPS for the current year.

In other Boot Barn news, Director Brenda I. Morris sold 7,000 shares of Boot Barn stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $28.04, for a total value of $196,280.00. Following the completion of the transaction, the director now owns 17,724 shares of the company’s stock, valued at $496,980.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can bought a new stake in Boot Barn in the 4th quarter valued at about $41,000. NumerixS Investment Technologies Inc bought a new position in Boot Barn in the 4th quarter worth about $46,000. PNC Financial Services Group Inc. increased its stake in shares of Boot Barn by 106.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,541 shares of the company’s stock valued at $60,000 after purchasing an additional 1,827 shares during the period. Sterling Investment Advisors Ltd. increased its stake in shares of Boot Barn by 33.3% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the company’s stock valued at $68,000 after purchasing an additional 1,000 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Boot Barn by 7.8% during the fourth quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock valued at $86,000 after buying an additional 368 shares during the last quarter.

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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