Boot Barn (NYSE:BOOT) Trading Down 7% After Analyst Downgrade

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price fell 7% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $210.00 to $200.00. UBS Group currently has a buy rating on the stock. Boot Barn traded as low as $149.30 and last traded at $149.58. 292,776 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 887,996 shares. The stock had previously closed at $160.85.

Several other equities research analysts have also recently issued reports on BOOT. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and raised their target price for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Benchmark reissued a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Piper Sandler restated an “overweight” rating and set a $181.00 price objective (up from $179.00) on shares of Boot Barn in a report on Friday. BTIG Research boosted their price target on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price objective on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $181.58.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at $602,282.26. This represents a 61.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new stake in Boot Barn during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its position in shares of Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after buying an additional 143 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Boot Barn by 100.8% in the third quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $89,000 after buying an additional 268 shares during the last quarter. USA Financial Formulas acquired a new stake in Boot Barn in the third quarter valued at $92,000. Finally, R Squared Ltd bought a new position in Boot Barn during the 4th quarter valued at $102,000.

Boot Barn Stock Performance

The company’s fifty day simple moving average is $153.42 and its two-hundred day simple moving average is $146.79. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.45 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last posted its quarterly 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 return on equity of 17.11% and a net margin of 9.36%. Sell-side analysts anticipate that Boot Barn Holdings, Inc. will post 5.84 EPS for the current year.

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.