Boot Barn (NYSE:BOOT) Trading Down 5.6% – What’s Next?

Boot Barn Holdings, Inc. (NYSE:BOOT) shares fell 5.6% during trading on Tuesday . The company traded as low as $137.12 and last traded at $137.35. 337,977 shares were traded during trading, a decline of 56% from the average session volume of 769,422 shares. The stock had previously closed at $145.45.

Analyst Ratings Changes

A number of brokerages recently commented on BOOT. JPMorgan Chase & Co. increased their price target on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Williams Trading reaffirmed a “buy” rating and set a $173.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target for the company in a research report on Wednesday, October 30th. Finally, Citigroup decreased their target price on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Stock Down 5.9 %

The company has a market capitalization of $4.18 billion, a PE ratio of 29.21 and a beta of 2.16. The company has a 50-day moving average price of $151.23 and a two-hundred day moving average price of $136.23.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several large investors have recently added to or reduced their stakes in BOOT. CANADA LIFE ASSURANCE Co boosted its stake in Boot Barn by 2.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 32,001 shares of the company’s stock valued at $3,045,000 after buying an additional 788 shares during the period. 1832 Asset Management L.P. bought a new stake in Boot Barn during the first quarter valued at $287,000. Price T Rowe Associates Inc. MD boosted its stake in Boot Barn by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,722 shares of the company’s stock valued at $1,782,000 after buying an additional 1,188 shares during the period. Bayesian Capital Management LP lifted its stake in Boot Barn by 208.4% during the first quarter. Bayesian Capital Management LP now owns 11,691 shares of the company’s stock worth $1,112,000 after purchasing an additional 7,900 shares during the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in shares of Boot Barn in the 1st quarter worth about $230,000.

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.