Boot Barn (NYSE:BOOT) Trading Down 17.3% – Here’s Why

by · The Markets Daily

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT – Get Free Report) fell 17.3% on Thursday . The company traded as low as $99.31 and last traded at $95.03. 309,346 shares changed hands during trading, a decline of 60% from the average session volume of 774,485 shares. The stock had previously closed at $114.85.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BOOT. Craig Hallum set a $178.00 target price on Boot Barn in a report on Friday, January 31st. Robert W. Baird reduced their price objective on shares of Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Thursday, January 23rd. UBS Group reduced their price target on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, BTIG Research upped their price target on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.92.

Check Out Our Latest Analysis on Boot Barn

Boot Barn Price Performance

The company has a 50-day moving average of $126.88 and a two-hundred day moving average of $142.64. The stock has a market capitalization of $3.00 billion, a PE ratio of 17.50, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT – Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in shares of Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after buying an additional 82 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock valued at $1,242,000 after purchasing an additional 83 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock valued at $208,000 after purchasing an additional 97 shares during the period. Summit Investment Advisors Inc. grew its holdings in Boot Barn by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after purchasing an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Boot Barn by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock worth $2,247,000 after buying an additional 100 shares during the period.

Boot Barn Company Profile

(Get Free Report)

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.

Recommended Stories