Wells Fargo Believes Boot Barn (NYSE: BOOT) Still Has Room to Grow

In a report released yesterday, Tom Nikic from Wells Fargo upgraded Boot Barn (BOOTResearch Report) to Buy. The company’s shares closed last Friday at $48.59, close to its 52-week high of $48.91.

According to TipRanks.com, Nikic is a 4-star analyst with an average return of 14.8% and a 63.2% success rate. Nikic covers the Consumer Goods sector, focusing on stocks such as Deckers Outdoor, Designer Brands, and Under Armour.

Boot Barn has an analyst consensus of Moderate Buy, with a price target consensus of $39.88.

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Boot Barn’s market cap is currently $1.37B and has a P/E ratio of 34.30. The company has a Price to Book ratio of 16.88.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BOOT in relation to earlier this year. Most recently, in November 2020, Gregory Hackman, the EVP, COO & CFO of BOOT sold 25,678 shares for a total of $1,078,476.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Boot Barn Holdings, Inc. engages in the operation of retail stores of western and work-related footwear, apparel, and accessories. Its products include boots, jeans, accessories, hats, gifts and home products, and work wear. Its brands include Ariat, Wrangler, Lucchese Boots, Idyllwind, and Cinch. The company was founded in 1978 and is headquartered in Irvine, CA.