Boot Barn (NYSE:BOOT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Tuesday, ValuEngine reports.

BOOT has been the subject of a number of other research reports. DA Davidson started coverage on Boot Barn in a research note on Wednesday, June 19th. They issued a “buy” rating and a $41.00 price target for the company. Zacks Investment Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Wednesday, July 17th. Susquehanna Bancshares initiated coverage on Boot Barn in a research note on Friday, July 12th. They set a “neutral” rating and a $35.00 target price on the stock. Wells Fargo & Co set a $30.00 price target on Boot Barn and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Robert W. Baird downgraded Boot Barn from an “outperform” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.10.

Shares of BOOT stock traded up $0.87 during mid-day trading on Tuesday, reaching $35.23. 930,653 shares of the company’s stock traded hands, compared to its average volume of 890,646. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 1.14. The firm has a market capitalization of $993.10 million, a PE ratio of 28.41, a price-to-earnings-growth ratio of 1.13 and a beta of 2.32. Boot Barn has a 12 month low of $15.01 and a 12 month high of $39.59. The firm has a 50 day moving average price of $31.93 and a two-hundred day moving average price of $30.70.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.11. Boot Barn had a return on equity of 15.99% and a net margin of 5.24%. The company had revenue of $185.77 million for the quarter, compared to analysts’ expectations of $179.98 million. During the same period last year, the firm earned $0.15 EPS. Boot Barn’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that Boot Barn will post 1.66 earnings per share for the current fiscal year.

In other news, CEO James Grant Conroy sold 28,569 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $35.00, for a total transaction of $999,915.00. Following the completion of the transaction, the chief executive officer now directly owns 39,647 shares in the company, valued at approximately $1,387,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Bettinelli sold 3,906 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.84, for a total transaction of $136,085.04. The disclosure for this sale can be found here. Insiders sold 142,192 shares of company stock worth $4,752,869 over the last quarter. 1.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in shares of Boot Barn by 5.1% in the 2nd quarter. Jane Street Group LLC now owns 7,357 shares of the company’s stock valued at $262,000 after acquiring an additional 357 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Boot Barn by 43.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock worth $56,000 after buying an additional 476 shares during the period. Hancock Whitney Corp boosted its stake in Boot Barn by 1.7% during the second quarter. Hancock Whitney Corp now owns 29,110 shares of the company’s stock worth $1,037,000 after buying an additional 478 shares during the period. Private Capital Group LLC boosted its stake in Boot Barn by 110.6% during the second quarter. Private Capital Group LLC now owns 1,255 shares of the company’s stock worth $26,000 after buying an additional 659 shares during the period. Finally, Globeflex Capital L P increased its position in Boot Barn by 15.1% during the first quarter. Globeflex Capital L P now owns 6,159 shares of the company’s stock valued at $181,000 after acquiring an additional 810 shares during the last quarter.

About Boot Barn

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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