Boot Barn (NYSE:BOOT) Given New $188.00 Price Target at JPMorgan Chase & Co.

Boot Barn (NYSE:BOOT) had its target price raised by investment analysts at JPMorgan Chase & Co. from $181.00 to $188.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.47% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Citigroup reduced their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler reiterated an “overweight” rating and issued a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. UBS Group upped their target price on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Williams Trading reiterated a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Boot Barn Price Performance

Shares of BOOT stock traded down $3.05 during trading on Wednesday, hitting $157.36. 323,452 shares of the stock traded hands, compared to its average volume of 639,391. Boot Barn has a 52-week low of $69.35 and a 52-week high of $169.83. The firm has a market capitalization of $4.80 billion, a P/E ratio of 31.60 and a beta of 2.10. The firm’s fifty day moving average price is $142.56 and its 200-day moving average price is $142.42.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities research analysts expect that Boot Barn will post 5.48 earnings per share for the current year.

Insider Activity at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Boot Barn in the second quarter worth $19,532,000. State Street Corp increased its position in Boot Barn by 4.4% during the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock worth $202,132,000 after purchasing an additional 51,356 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Boot Barn by 56.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock valued at $23,638,000 after purchasing an additional 51,032 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Boot Barn in the 3rd quarter valued at about $5,931,000. Finally, Sei Investments Co. boosted its stake in shares of Boot Barn by 39.3% during the 2nd quarter. Sei Investments Co. now owns 102,933 shares of the company’s stock worth $13,271,000 after purchasing an additional 29,049 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.