Boot Barn (NYSE:BOOT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Boot Barn (NYSE:BOOT) from a hold rating to a sell rating in a research note published on Monday morning.

Several other equities research analysts also recently commented on BOOT. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a report on Thursday, January 23rd. Citigroup decreased 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. BTIG Research boosted their price target 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. Williams Trading restated a “buy” rating and set a $173.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Finally, Piper Sandler restated an “overweight” rating and set a $181.00 price target (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, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Boot Barn Trading Down 3.3 %

Shares of Boot Barn stock opened at $133.45 on Monday. The company’s 50-day moving average price is $151.74 and its two-hundred day moving average price is $147.86. Boot Barn has a 52 week low of $82.67 and a 52 week high of $176.64. The stock has a market cap of $4.08 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.21 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last released its earnings results 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, equities analysts predict that Boot Barn will post 5.82 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning increased its holdings in Boot Barn by 41.4% in the 3rd quarter. Creative Planning now owns 8,422 shares of the company’s stock valued at $1,409,000 after buying an additional 2,466 shares during the period. GHP Investment Advisors Inc. bought a new stake in Boot Barn in the third quarter valued at about $25,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Boot Barn in the third quarter valued at about $408,000. James Investment Research Inc. increased its stake in Boot Barn by 10.4% in the third quarter. James Investment Research Inc. now owns 12,274 shares of the company’s stock valued at $2,053,000 after acquiring an additional 1,153 shares during the period. Finally, Portside Wealth Group LLC bought a new stake in shares of Boot Barn in the 3rd quarter valued at approximately $383,000.

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.