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Boot Barn Holdings stock price
Boot Barn Holdings latest news:
Boot Barn's stock jumps to 10-month high after analyst boosts rating, price target
Shares of Boot Barn Holdings Inc. shot up 6.4% toward a 10-month high in afternoon trade Wednesday, after J.P. Morgan upgraded the western and work-related footwear and apparel retailer. The stock has now run up 48% since Boot Barn reported fiscal second-quarter profit, revenue and same-store sales that beat expectations after the Nov. 2 close. J.P. Morgan analyst Matthew Boss raised his rating to overweight, after being at neutral since April 2016, and nearly doubled his stock price target to $17 from $9. After hosting a meeting with Boot Barn management, Boss came away more confident that sales have stabilized and that e-commerce has swung to a tailwind from a headwind the past three quarters, while the balance sheet has strengthened. Boss said that suggests company has "weathered the storm" of earnings compression it has suffered the past two years. He also stable-to-rising oil and gas prices suggests the economic backdrop in the key oil-and-gas states that Boot Barn operates in are improving. Despite the rally this month, the stock was still down 0.6% year to date, while the SPDR S&P Retail ETF has lost 9.1% and the S&P 500 has climbed 15%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Boot Barn Holdings acquires four-store boot chain in Texas, provides hurricane impact update
Boot Barn Holdings Inc(BOOT). * Boot Barn Holdings Inc(BOOT) acquires four-store boot chain in Texas; provides hurricane impact update. * Boot Barn Holdings Inc (BOOT) - Impact of Hurricane Harvey resulted in conditions that temporarily closed 20 Houston-area stores Source text for Eikon: Further company coverage:
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