Robert W. Baird Has Lowered Expectations for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT) had its target price lowered by research analysts at Robert W. Baird from $190.00 to $155.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 32.99% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Bank of America raised their target price on shares of Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Thursday, January 23rd. StockNews.com cut shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Finally, BTIG Research lifted their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boot Barn currently has an average rating of “Moderate Buy” and an average target price of $181.92.

Boot Barn Trading Up 2.5 %

NYSE BOOT opened at $116.55 on Wednesday. Boot Barn has a 12 month low of $82.67 and a 12 month high of $176.64. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.17 and a beta of 2.07. The company’s 50 day moving average is $146.84 and its two-hundred day moving average is $147.35.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. Sell-side analysts forecast that Boot Barn will post 5.82 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This trade 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. 1.00% of the stock is owned by insiders.

Institutional Trading of Boot Barn

Several institutional investors and hedge funds have recently made changes to their positions in BOOT. FMR LLC lifted its position in shares of Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after purchasing an additional 709,903 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Boot Barn by 48.6% in the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after acquiring an additional 706,518 shares in the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Boot Barn in the fourth quarter valued at about $46,699,000. Proficio Capital Partners LLC bought a new stake in shares of Boot Barn in the fourth quarter valued at about $45,177,000. Finally, Capital Research Global Investors raised its holdings in shares of Boot Barn by 32.6% in the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock valued at $173,351,000 after acquiring an additional 280,892 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.