Boot Barn (NYSE:BOOT) Shares Gap Down – Here’s Why

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $174.52, but opened at $157.25. Boot Barn shares last traded at $165.82, with a volume of 226,169 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on BOOT shares. Williams Trading reissued a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price target (up previously from $179.00) on shares of Boot Barn in a research note on Friday. Bank of America raised their price target on shares of Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their target price for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. Finally, BTIG Research lifted their target price on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $173.15.

Boot Barn Stock Down 2.5 %

The firm has a market cap of $5.20 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 1.57 and a beta of 2.10. The firm’s 50-day simple moving average is $152.95 and its 200 day simple moving average is $146.29.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. As a group, analysts forecast that Boot Barn Holdings, Inc. will post 5.8 earnings per share for the current year.

Insider Activity at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new position in shares of Boot Barn in the 3rd quarter worth about $25,000. Blue Trust Inc. grew its position in Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after purchasing an additional 143 shares during the last quarter. GAMMA Investing LLC grew its position in Boot Barn by 100.8% during the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Boot Barn during the 3rd quarter valued at about $92,000. Finally, R Squared Ltd purchased a new stake in shares of Boot Barn during the 4th quarter valued at about $102,000.

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.