Boot Barn (NYSE:BOOT) Sets New 1-Year Low - Here's Why

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $88.23 and last traded at $103.40, with a volume of 2155314 shares trading hands. The stock had previously closed at $91.92.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Boot Barn from $200.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Craig Hallum set a $178.00 target price on Boot Barn in a research note on Friday, January 31st. 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. Bank of America increased their price target on shares of Boot Barn from $187.00 to $192.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Finally, UBS Group reduced their price target on shares of Boot Barn from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned 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 price target of $175.62.

Boot Barn Stock Down 2.9 %

The company's 50-day moving average price is $114.01 and its 200-day moving average price is $138.05. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.17 and a beta of 1.75.

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Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping 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 predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in shares of Boot Barn by 5.9% in the 3rd quarter. Stifel Financial Corp now owns 20,592 shares of the company's stock valued at $3,445,000 after purchasing an additional 1,141 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 6,369 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Boot Barn in the third quarter valued at $212,000. Franklin Resources Inc. lifted its holdings in Boot Barn by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 420,688 shares of the company's stock worth $68,004,000 after buying an additional 4,226 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted 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 worth $23,638,000 after acquiring an additional 51,032 shares in the last quarter.

Boot Barn Company Profile

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.