Boot Barn (NYSE:BOOT) Reaches New 12-Month Low – Should You Sell?

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week low on Thursday . The company traded as low as $88.23 and last traded at $103.40, with a volume of 2155314 shares traded. The stock had previously closed at $91.92.

Wall Street Analyst Weigh In

BOOT has been the topic of several analyst reports. BTIG Research raised their target price on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 13th. StockNews.com downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. UBS Group dropped their target price on Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Thursday, January 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.62.

Boot Barn Trading Down 1.2 %

The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.17 and a beta of 1.75. The business’s fifty day moving average price is $114.94 and its 200 day moving average price is $138.72.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Congress Asset Management Co. grew its position in Boot Barn by 5.5% in the 1st quarter. Congress Asset Management Co. now owns 457,675 shares of the company’s stock valued at $49,168,000 after buying an additional 23,880 shares during the last quarter. NBC Securities Inc. boosted its stake in shares of Boot Barn by 152,125.0% in the first quarter. NBC Securities Inc. now owns 6,089 shares of the company’s stock valued at $654,000 after buying an additional 6,085 shares in the last quarter. Rhumbline Advisers grew its holdings in Boot Barn by 1.4% during the first quarter. Rhumbline Advisers now owns 81,154 shares of the company’s stock worth $8,718,000 after acquiring an additional 1,124 shares during the period. GAMMA Investing LLC grew its holdings in Boot Barn by 8,368.8% during the first quarter. GAMMA Investing LLC now owns 42,005 shares of the company’s stock worth $4,513,000 after acquiring an additional 41,509 shares during the period. Finally, Versant Capital Management Inc raised its position in Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter.

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.