Boot Barn (NYSE:BOOT) Shares Gap Down – Here’s Why

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $174.52, but opened at $157.25. Boot Barn shares last traded at $165.82, with a volume of 226,169 shares changing hands.

Analyst Ratings Changes

BOOT has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research note on Wednesday, October 30th. Finally, BTIG Research lifted their target price on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $173.15.

Boot Barn Trading Down 2.5 %

The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 1.57 and a beta of 2.10. The company has a 50-day moving average of $152.95 and a 200-day moving average of $146.29.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. On average, research analysts expect that Boot Barn Holdings, Inc. will post 5.8 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,937 shares in the company, valued at $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of BOOT. GHP Investment Advisors Inc. acquired a new position in shares of Boot Barn in the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased 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 valued at $26,000 after purchasing an additional 143 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Boot Barn by 100.8% in 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 purchased a new stake in shares of Boot Barn in the 3rd quarter valued at approximately $92,000. Finally, R Squared Ltd purchased a new position in shares of Boot Barn in the 4th quarter valued at $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.