Boot Barn (NYSE:BOOT) Trading Down 17.3% – What’s Next?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price was down 17.3% during mid-day trading on Thursday . The stock traded as low as $99.31 and last traded at $95.03. Approximately 309,346 shares were traded during trading, a decline of 60% from the average daily volume of 774,485 shares. The stock had previously closed at $114.85.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BOOT shares. BTIG Research boosted their price target on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. KeyCorp raised shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Thursday, January 23rd. Robert W. Baird lowered their price objective on Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. StockNews.com cut Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Finally, JPMorgan Chase & Co. boosted their price target on Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued 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 “Moderate Buy” and a consensus price target of $181.92.

Boot Barn Price Performance

The company has a fifty day moving average of $124.04 and a 200-day moving average of $141.93. The firm has a market cap of $2.99 billion, a P/E ratio of 17.47, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. On average, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Several institutional investors have recently modified their holdings of BOOT. Signaturefd LLC boosted its position in Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 111 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 worth $26,000 after buying an additional 143 shares during the last quarter. Versant Capital Management Inc grew its position in Boot Barn by 210.8% during the first quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock valued at $34,000 after buying an additional 215 shares during the period. Assetmark Inc. increased its holdings in Boot Barn by 45.2% during the fourth quarter. Assetmark Inc. now owns 363 shares of the company’s stock worth $55,000 after buying an additional 113 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Boot Barn in the fourth quarter worth about $102,000.

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.