Boot Barn’s (BOOT) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Boot Barn (NYSE:BOOT) in a research report released on Tuesday, The Fly reports. DA Davidson currently has a $52.00 price objective on the stock.

A number of other equities analysts have also weighed in on BOOT. Cowen increased their target price on shares of Boot Barn from $47.00 to $50.00 and gave the stock an outperform rating in a research report on Tuesday. Craig Hallum initiated coverage on shares of Boot Barn in a research report on Friday, October 4th. They set a buy rating and a $46.00 target price for the company. Stephens initiated coverage on shares of Boot Barn in a research report on Tuesday, October 8th. They set an overweight rating and a $46.00 target price for the company. Pivotal Research reiterated a hold rating and set a $46.00 target price (up previously from $40.00) on shares of Boot Barn in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Boot Barn from a hold rating to a buy rating and set a $53.00 target price for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $44.00.

NYSE BOOT opened at $44.79 on Tuesday. Boot Barn has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a 50-day simple moving average of $43.27 and a 200 day simple moving average of $37.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.12 and a current ratio of 1.14. The company has a market capitalization of $1.31 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 1.53 and a beta of 2.27.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Boot Barn had a net margin of 5.51% and a return on equity of 16.61%. The business had revenue of $187.20 million during the quarter, compared to the consensus estimate of $184.13 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Boot Barn will post 1.77 EPS for the current fiscal year.

In other Boot Barn news, insider Laurie Marie Grijalva sold 19,625 shares of Boot Barn stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $39.91, for a total transaction of $783,233.75. Following the completion of the sale, the insider now directly owns 21,747 shares in the company, valued at $867,922.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael A. Love sold 31,242 shares of Boot Barn stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $42.35, for a total transaction of $1,323,098.70. Following the sale, the senior vice president now owns 8,566 shares of the company’s stock, valued at $362,770.10. The disclosure for this sale can be found here. Insiders sold 145,111 shares of company stock valued at $6,084,607 over the last 90 days. 1.70% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in BOOT. California Public Employees Retirement System raised its stake in shares of Boot Barn by 109.4% during the third quarter. California Public Employees Retirement System now owns 80,883 shares of the company’s stock worth $2,823,000 after acquiring an additional 42,256 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Boot Barn by 1,395.0% during the third quarter. Voya Investment Management LLC now owns 301,688 shares of the company’s stock worth $10,529,000 after acquiring an additional 281,508 shares in the last quarter. State Street Corp raised its stake in shares of Boot Barn by 2.3% during the third quarter. State Street Corp now owns 910,506 shares of the company’s stock worth $31,777,000 after acquiring an additional 20,315 shares in the last quarter. Comerica Bank raised its stake in shares of Boot Barn by 1.4% during the third quarter. Comerica Bank now owns 26,776 shares of the company’s stock worth $991,000 after acquiring an additional 364 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Boot Barn by 2.0% during the third quarter. New York State Teachers Retirement System now owns 15,199 shares of the company’s stock worth $530,000 after acquiring an additional 300 shares in 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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The Fly

Analyst Recommendations for Boot Barn (NYSE:BOOT)

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