Boot Barn Holdings Inc (BOOT) Receives Consensus Recommendation of “Buy” from Brokerages

Boot Barn Holdings Inc (NYSE:BOOT) has been given an average recommendation of “Buy” by the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $27.56.

Several research analysts have commented on the company. TheStreet raised Boot Barn from a “c+” rating to a “b” rating in a research report on Tuesday, August 28th. William Blair assumed coverage on Boot Barn in a research report on Tuesday, October 9th. They issued an “outperform” rating on the stock. Pivotal Research set a $24.00 price objective on Boot Barn and gave the company a “hold” rating in a research report on Wednesday, August 8th. Citigroup raised their price objective on Boot Barn from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Finally, Jefferies Financial Group raised their price objective on Boot Barn from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, October 26th.

In other news, Director Peter Starrett sold 74,725 shares of Boot Barn stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $29.44, for a total transaction of $2,199,904.00. Following the sale, the director now directly owns 68,412 shares of the company’s stock, valued at $2,014,049.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Laurie Marie Grijalva sold 41,779 shares of Boot Barn stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $29.90, for a total value of $1,249,192.10. Following the sale, the insider now directly owns 18,327 shares in the company, valued at $547,977.30. The disclosure for this sale can be found here. Insiders sold 134,597 shares of company stock worth $3,982,297 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Boot Barn during the third quarter worth about $174,000. Kessler Investment Group LLC purchased a new stake in shares of Boot Barn during the third quarter worth about $177,000. Globeflex Capital L P increased its position in shares of Boot Barn by 48.8% during the third quarter. Globeflex Capital L P now owns 6,304 shares of the company’s stock worth $179,000 after acquiring an additional 2,067 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Boot Barn during the second quarter worth about $142,000. Finally, Ibex Investors LLC purchased a new stake in shares of Boot Barn during the third quarter worth about $208,000.

Shares of BOOT traded down $0.46 during trading hours on Thursday, hitting $22.11. The stock had a trading volume of 1,190,200 shares, compared to its average volume of 742,771. The company has a current ratio of 1.56, a quick ratio of 0.20 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $712.50 million, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.87. Boot Barn has a 12-month low of $12.61 and a 12-month high of $31.61.

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.

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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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