Boot Barn (NYSE:BOOT) Stock Rating Lowered by Craig Hallum

Boot Barn (NYSE:BOOT) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Marketbeat.com reports. They presently have a $162.00 price objective on the stock, up from their prior price objective of $154.00. Craig Hallum’s price target would suggest a potential upside of 0.75% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird lifted their price target on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. BTIG Research boosted their target price on Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup upped their price target on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler lifted their price objective on Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Benchmark upped their price objective on shares of Boot Barn from $140.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $157.20.

Boot Barn Trading Down 0.8 %

Shares of BOOT opened at $160.80 on Friday. The stock has a 50 day moving average of $153.78 and a 200 day moving average of $130.91. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 33.50 and a beta of 2.12. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $415.04 million. During the same period last year, the firm posted $1.11 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts predict that Boot Barn will post 5.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Boot Barn in the third quarter worth $408,000. GHP Investment Advisors Inc. purchased a new stake in shares of Boot Barn in the 3rd quarter valued at about $25,000. Trust Point Inc. boosted its position in shares of Boot Barn by 0.8% during the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after acquiring an additional 71 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Boot Barn during the third quarter worth about $335,000. Finally, FLC Capital Advisors purchased a new position in shares of Boot Barn during the third quarter worth about $218,000.

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.