Boot Barn (NYSE:BOOT) Trading Down 3.9%

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) were down 3.9% during trading on Monday . The company traded as low as $161.19 and last traded at $161.19. Approximately 58,174 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 769,585 shares. The stock had previously closed at $167.81.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen upped their price target on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Robert W. Baird upped their target price on Boot Barn from $132.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Citigroup lifted their price target on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, BTIG Research raised their price objective on Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.10.

Boot Barn Price Performance

The company has a market cap of $4.97 billion, a PE ratio of 33.96 and a beta of 2.11. The business’s fifty day simple moving average is $135.81 and its two-hundred day simple moving average is $119.02.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.08 by $0.18. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. Boot Barn’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share. As a group, analysts predict that Boot Barn Holdings, Inc. will post 5.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in Boot Barn by 186.6% in the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after purchasing an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Boot Barn by 43.8% in the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after purchasing an additional 649,021 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Boot Barn during the fourth quarter worth approximately $32,361,000. Capital Research Global Investors acquired a new position in Boot Barn during the first quarter worth $32,779,000. Finally, Janus Henderson Group PLC grew its holdings in Boot Barn by 1,212.4% in the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after buying an additional 263,444 shares in the last quarter.

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.