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

StockNews.com cut shares of Boot Barn (NYSE:BOOT) from a hold rating to a sell rating in a report released on Monday.

Several other analysts also recently weighed in on the stock. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a research note on Wednesday, October 30th. 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 research note on Friday, January 31st. UBS Group cut their price target on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, 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 research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Boot Barn Trading Down 3.3 %

NYSE:BOOT opened at $133.45 on Monday. The stock has a fifty day moving average price of $151.74 and a 200 day moving average price of $147.86. The firm 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 has a 12-month low of $82.67 and a 12-month high of $176.64.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. Equities analysts forecast that Boot Barn will post 5.82 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John Hazen sold 6,311 shares of the firm’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 sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boot Barn

A number of hedge funds have recently added to or reduced their stakes in BOOT. Vanguard Group Inc. raised its stake in Boot Barn by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock valued at $517,686,000 after acquiring an additional 73,089 shares in the last quarter. FMR LLC raised its stake in shares of Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company’s stock valued at $335,720,000 after purchasing an additional 709,903 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after purchasing an additional 706,518 shares in the last quarter. State Street Corp raised its stake in shares of Boot Barn by 4.4% during the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after purchasing an additional 51,356 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock valued at $173,351,000 after purchasing an additional 280,892 shares in 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.