Boot Barn (NYSE:BOOT) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $141.36 and traded as high as $155.66. Boot Barn shares last traded at $151.82, with a volume of 664,298 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on BOOT shares. Williams Trading reaffirmed a “buy” rating and issued a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Citigroup dropped their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $179.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Performance

The stock has a market cap of $4.66 billion, a P/E ratio of 30.65 and a beta of 2.14. The firm has a 50-day moving average price of $142.16 and a 200-day moving average price of $141.61.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, research analysts predict that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Verus Capital Partners LLC bought a new stake in Boot Barn in the second quarter worth $219,000. Rhumbline Advisers raised its position in shares of Boot Barn by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 84,556 shares of the company’s stock worth $10,902,000 after purchasing an additional 543 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Boot Barn by 19.8% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 58,015 shares of the company’s stock worth $7,480,000 after purchasing an additional 9,600 shares in the last quarter. Arizona State Retirement System grew its position in Boot Barn by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 8,483 shares of the company’s stock valued at $1,094,000 after purchasing an additional 160 shares during the last quarter. Finally, Choreo LLC bought a new stake in Boot Barn during the 2nd quarter valued at about $213,000.

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.