Citigroup maintained its Buy recommendation for Boot Barn Holdings (NYSE:BOOT) on Tuesday, forecasting a 56.15% increase from the closing price of $72.76 to a one-year price target of $113.61. The projection was made within a range of $88.88 to $136.50, indicating significant potential growth for the retailer.
The leading lifestyle retailer, operating in 36 states across the U.S., is expected to see an annual revenue increase of 8.33%, rising to $1,815 million. Boot Barn's non-GAAP EPS is forecasted at 6.15, further underlining the financial health of the company.
Despite a decrease in institutional ownership by 3.34% and a reduction in portfolio weight by 5.46% to 0.30%, total institutional shares increased by 1.88% to 42,151K shares. This suggests a bullish sentiment as evidenced by the put/call ratio standing at 0.84.
Among the company's major shareholders are iShares Core S&P Small-Cap ETF (IJR) with 2,089K shares (6.97%), Capital World Investors with 1,787K shares (5.96%), SMALLCAP WORLD FUND INC also holding 1,787K shares (5.96%), Wasatch Advisors with 1,511K shares (5.04%), and Vanguard Total Stock Market Index Fund Investor Shares with 930K shares (3.10%).
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