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

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BOOT shares. UBS Group upped their price objective on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Williams Trading restated a “buy” rating and set a $173.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Trading Down 5.9 %

The firm has a 50 day simple moving average of $151.23 and a 200 day simple moving average of $136.23. The firm has a market capitalization of $4.18 billion, a PE ratio of 29.21 and a beta of 2.16.

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

Hedge Funds Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. CANADA LIFE ASSURANCE Co boosted its stake in shares of Boot Barn by 2.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,001 shares of the company’s stock worth $3,045,000 after buying an additional 788 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Boot Barn in the 1st quarter worth $287,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Boot Barn by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,722 shares of the company’s stock worth $1,782,000 after buying an additional 1,188 shares during the last quarter. Bayesian Capital Management LP boosted its stake in shares of Boot Barn by 208.4% in the 1st quarter. Bayesian Capital Management LP now owns 11,691 shares of the company’s stock worth $1,112,000 after buying 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 $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.