StockNews.com Upgrades Boot Barn (NYSE:BOOT) to “Hold”

Boot Barn (NYSE:BOOT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Several other equities research analysts also recently issued reports on BOOT. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research report on Wednesday, October 30th. Citigroup lowered their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. 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. UBS Group lowered their price target on Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boot Barn has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Boot Barn Trading Down 0.8 %

Boot Barn stock opened at $144.40 on Monday. The business’s 50 day simple moving average is $153.52 and its 200 day simple moving average is $147.14. Boot Barn has a 12 month low of $80.33 and a 12 month high of $176.64. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.45 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that Boot Barn will post 5.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 owns 3,937 shares in the company, valued at approximately $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Boot Barn

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

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.