Boot Barn (NYSE:BOOT) Stock Price Down 8.5%

Boot Barn Holdings, Inc. (NYSE:BOOT – Get Rating)’s stock price was down 8.5% during mid-day trading on Wednesday . The company traded as low as $84.74 and last traded at $84.96. Approximately 2,060 shares changed hands during trading, a decline of 100% from the average daily volume of 655,266 shares. The stock had previously closed at $92.84.

A number of research analysts have issued reports on BOOT shares. Zacks Investment Research upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Monday. Craig Hallum lowered their price objective on Boot Barn from $162.00 to $145.00 in a research note on Wednesday, May 11th. Seaport Res Ptn reissued a “neutral” rating on shares of Boot Barn in a report on Tuesday, January 18th. StockNews.com began coverage on Boot Barn in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Robert W. Baird reduced their target price on Boot Barn from $145.00 to $130.00 in a report on Friday, January 28th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Boot Barn currently has an average rating of “Buy” and an average price target of $122.92.

The company has a market cap of $2.36 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 0.70 and a beta of 2.78. The company has a fifty day moving average of $94.18 and a 200 day moving average of $102.70.

Boot Barn (NYSE:BOOT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.32 by $0.15. Boot Barn had a return on equity of 36.19% and a net margin of 12.93%. The company had revenue of $383.31 million during the quarter, compared to analyst estimates of $354.02 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. Boot Barn’s revenue was up 48.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boot Barn Holdings, Inc. will post 6.43 earnings per share for the current fiscal year.

In other Boot Barn news, insider John Hazen sold 2,420 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $99.73, for a total transaction of $241,346.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Watkins purchased 2,500 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were bought at an average cost of $77.00 per share, with a total value of $192,500.00. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Boot Barn by 5.4% in the fourth quarter. BlackRock Inc. now owns 4,655,016 shares of the company’s stock worth $572,802,000 after buying an additional 238,170 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Boot Barn by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,663,917 shares of the company’s stock worth $252,512,000 after buying an additional 84,077 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Boot Barn by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,319,793 shares of the company’s stock worth $117,306,000 after buying an additional 12,570 shares in the last quarter. FMR LLC lifted its position in shares of Boot Barn by 15.9% in the first quarter. FMR LLC now owns 1,099,719 shares of the company’s stock worth $32,376,000 after buying an additional 150,763 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Boot Barn by 40.7% in the fourth quarter. Invesco Ltd. now owns 993,480 shares of the company’s stock worth $122,247,000 after buying an additional 287,417 shares in the last quarter.

Boot Barn Company Profile (NYSE:BOOT)

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.

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