Boot Barn (NYSE:BOOT) Hits New 12-Month Low - Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $88.09 and last traded at $88.09, with a volume of 943933 shares trading hands. The stock had previously closed at $92.09.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BTIG Research upped their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a "buy" rating in a report on Monday, January 13th. Stephens began coverage on Boot Barn in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 target price on the stock. Robert W. Baird cut their price target on Boot Barn from $190.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Piper Sandler reaffirmed an "overweight" rating and set a $181.00 target price (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Finally, UBS Group decreased their price target on Boot Barn from $210.00 to $200.00 and set a "buy" rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.62.

Boot Barn Trading Down 2.2 %

The company has a fifty day simple moving average of $109.46 and a two-hundred day simple moving average of $135.42. The company has a market cap of $2.74 billion, a PE ratio of 15.98, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share 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%. On average, research analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of Boot Barn by 1.0% during the third quarter. Franklin Resources Inc. now owns 420,688 shares of the company's stock worth $68,004,000 after purchasing an additional 4,226 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Boot Barn by 56.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company's stock valued at $23,638,000 after acquiring an additional 51,032 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Boot Barn by 18,573.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,939 shares of the company's stock worth $2,268,000 after buying an additional 14,859 shares during the last quarter. Tilia Fiduciary Partners Inc. boosted its stake in Boot Barn by 1.7% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 9,798 shares of the company's stock valued at $1,488,000 after acquiring an additional 167 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Boot Barn in the fourth quarter worth $322,000.

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.