TD Cowen Increases Boot Barn (NYSE:BOOT) Price Target to $120.00

Boot Barn (NYSE:BOOT) had its target price raised by stock analysts at TD Cowen from $115.00 to $120.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 12.74% from the company’s previous close.

Several other research firms have also weighed in on BOOT. Williams Trading restated a “hold” rating on shares of Boot Barn in a research note on Tuesday, January 16th. Robert W. Baird boosted their price objective on shares of Boot Barn from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $108.00 in a research note on Friday, January 5th. BTIG Research decreased their price target on shares of Boot Barn from $102.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Finally, KeyCorp started coverage on shares of Boot Barn in a research note on Wednesday, February 7th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.11.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $106.44 on Monday. The company’s 50-day moving average price is $94.25 and its two-hundred day moving average price is $82.23. Boot Barn has a one year low of $64.33 and a one year high of $110.89. The stock has a market capitalization of $3.23 billion, a PE ratio of 19.83 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.80 by $0.01. The firm had revenue of $520.40 million for the quarter, compared to analysts’ expectations of $520.34 million. Boot Barn had a net margin of 9.62% and a return on equity of 19.52%. On average, analysts anticipate that Boot Barn will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO James Grant Conroy sold 19,478 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the sale, the chief executive officer now owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Laurie Marie Grijalva sold 5,861 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the completion of the sale, the insider now owns 5,861 shares of the company’s stock, valued at approximately $529,306.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Grant Conroy sold 19,478 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the sale, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The disclosure for this sale can be found here. Insiders sold 26,339 shares of company stock valued at $2,413,715 in the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in shares of Boot Barn during the 4th quarter worth approximately $1,167,000. Jump Financial LLC bought a new position in Boot Barn in the 3rd quarter valued at approximately $1,688,000. Schonfeld Strategic Advisors LLC lifted its stake in Boot Barn by 410.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,300 shares of the company’s stock valued at $1,161,000 after purchasing an additional 11,500 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Boot Barn in the 3rd quarter valued at approximately $8,486,000. Finally, Boston Partners bought a new position in Boot Barn in the 3rd quarter valued at approximately $648,000.

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.