Boot Barn (NYSE:BOOT) Sets New 12-Month Low – Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $88.09 and last traded at $88.09, with a volume of 943933 shares traded. The stock had previously closed at $92.09.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. BTIG Research lifted their price target on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Bank of America lifted their price objective on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. UBS Group reduced 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. Finally, Stephens began coverage on shares of Boot Barn in a report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.62.

Boot Barn Stock Down 2.6 %

The stock has a fifty day moving average of $113.02 and a 200-day moving average of $137.73. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. On average, equities analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Boot Barn by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock valued at $517,686,000 after buying an additional 73,089 shares in the last quarter. FMR LLC increased its stake in shares of Boot Barn by 47.3% in the fourth quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after buying an additional 709,903 shares during the last quarter. Wellington Management Group LLP raised its holdings in Boot Barn by 48.6% in the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after acquiring an additional 706,518 shares in the last quarter. Capital Research Global Investors grew its holdings in Boot Barn by 32.6% during the 4th quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after acquiring an additional 280,892 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Boot Barn by 13.2% in the 4th quarter. Alliancebernstein L.P. now owns 846,983 shares of the company’s stock worth $128,589,000 after purchasing an additional 99,029 shares during the last quarter.

Boot Barn Company Profile

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.