Boot Barn (NYSE:BOOT) Stock Price Down 3.9%

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BOOT shares. TD Cowen raised their target price on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Citigroup increased their price target on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 19th. Craig Hallum boosted their price objective on Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, UBS Group raised their price objective on Boot Barn from $125.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.10.

Boot Barn Stock Performance

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

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $423.40 million during 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Analysts expect that Boot Barn Holdings, Inc. will post 5.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

A number of large investors have recently bought and sold shares of BOOT. Quest Partners LLC bought a new stake in shares of Boot Barn in the 4th quarter valued at about $112,000. Franklin Resources Inc. grew its stake in Boot Barn by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 383,562 shares of the company’s stock worth $29,442,000 after buying an additional 2,270 shares during the last quarter. US Bancorp DE increased its position in Boot Barn by 39.9% during the 4th quarter. US Bancorp DE now owns 12,232 shares of the company’s stock valued at $939,000 after buying an additional 3,487 shares in the last quarter. Congress Wealth Management LLC DE raised its stake in Boot Barn by 10.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 76,133 shares of the company’s stock valued at $5,844,000 after buying an additional 7,031 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Boot Barn by 80.1% in the fourth quarter. Capstone Investment Advisors LLC now owns 8,592 shares of the company’s stock valued at $660,000 after buying an additional 3,821 shares during 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.