Boot Barn (NYSE:BOOT) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $141.36 and traded as high as $155.66. Boot Barn shares last traded at $151.82, with a volume of 664,298 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BOOT shares. Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. BTIG Research increased their target price on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Williams Trading restated a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, UBS Group lifted their target price on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Price Performance

The stock has a 50-day moving average price of $142.57 and a 200-day moving average price of $141.36. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 30.49 and a beta of 2.14.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share (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 during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Equities analysts forecast that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BOOT. Geode Capital Management LLC grew its position in shares of Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after purchasing an additional 6,369 shares during the last quarter. Algert Global LLC boosted its stake in Boot Barn by 653.9% in the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock valued at $3,848,000 after purchasing an additional 19,950 shares during the period. Blueshift Asset Management LLC acquired a new position in Boot Barn in the 3rd quarter valued at $3,343,000. Public Sector Pension Investment Board increased its position in Boot Barn by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock worth $8,626,000 after buying an additional 4,785 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Boot Barn by 51.1% during the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock worth $2,402,000 after buying an additional 4,856 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.