Boot Barn Holdings, Inc. (NYSE:BOOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $9.75 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 11.81% from the stock’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. “
A number of other equities analysts have also recently issued reports on BOOT. Robert W. Baird upgraded shares of Boot Barn Holdings from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $11.00 in a research report on Friday, August 4th. Piper Jaffray Companies restated a “buy” rating on shares of Boot Barn Holdings in a research report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and set a $15.00 target price on shares of Boot Barn Holdings in a research report on Tuesday, July 4th. J P Morgan Chase & Co restated a “neutral” rating and set a $7.00 target price (down previously from $11.00) on shares of Boot Barn Holdings in a research report on Tuesday, June 6th. Finally, Citigroup Inc. restated a “buy” rating and set a $9.00 target price (down previously from $14.00) on shares of Boot Barn Holdings in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.34.
Boot Barn Holdings (NYSE BOOT) opened at 8.72 on Tuesday. The firm has a market cap of $231.88 million, a P/E ratio of 16.18 and a beta of 1.29. The company’s 50 day moving average is $8.43 and its 200 day moving average is $8.38. Boot Barn Holdings has a 52-week low of $5.90 and a 52-week high of $17.26.
Boot Barn Holdings (NYSE:BOOT) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.03 EPS for the quarter. The firm had revenue of $139.40 million for the quarter, compared to the consensus estimate of $139.00 million. Boot Barn Holdings had a net margin of 2.26% and a return on equity of 8.58%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Equities research analysts forecast that Boot Barn Holdings will post $0.61 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Trexquant Investment LP acquired a new position in Boot Barn Holdings during the second quarter worth approximately $106,000. Gotham Asset Management LLC acquired a new position in Boot Barn Holdings during the first quarter worth approximately $112,000. Capital Fund Management S.A. acquired a new position in Boot Barn Holdings during the second quarter worth approximately $114,000. BlueCrest Capital Management Ltd acquired a new position in Boot Barn Holdings during the second quarter worth approximately $116,000. Finally, Eagle Global Advisors LLC increased its position in Boot Barn Holdings by 97.3% during the second quarter. Eagle Global Advisors LLC now owns 22,630 shares of the company’s stock worth $160,000 after purchasing an additional 11,160 shares during the last quarter.
About Boot Barn Holdings
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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