StockNews.com Downgrades Boot Barn (NYSE:BOOT) to Sell

Boot Barn (NYSE:BOOT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

BOOT has been the topic of several other research reports. Benchmark reaffirmed a “buy” rating and set a $192.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. BTIG Research lifted their price objective on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Bank of America upped their target price on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $181.00 price target (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boot Barn presently has a consensus rating of “Moderate Buy” and an average price target of $181.58.

Boot Barn Stock Performance

Shares of NYSE:BOOT traded up $2.35 during trading hours on Monday, hitting $137.11. 907,938 shares of the company’s stock traded hands, compared to its average volume of 1,014,680. The company’s fifty day simple moving average is $152.18 and its two-hundred day simple moving average is $147.82. Boot Barn has a 52 week low of $82.67 and a 52 week high of $176.64. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.25 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping 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%. On average, analysts anticipate that Boot Barn will post 5.82 EPS for the current fiscal year.

Insider Transactions at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of BOOT. Geode Capital Management LLC raised its holdings in shares of Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after purchasing an additional 6,369 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Boot Barn in the 4th quarter valued at $1,544,000. Algert Global LLC boosted its stake in shares of Boot Barn by 653.9% during the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after buying an additional 19,950 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Boot Barn during the 3rd quarter worth about $3,343,000. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Boot Barn in the fourth quarter valued at about $46,699,000.

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.