Boot Barn (NYSE:BOOT) Shares Gap Down - Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $91.92, but opened at $88.23. Boot Barn shares last traded at $90.14, with a volume of 246,066 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BTIG Research lifted their price objective on Boot Barn from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, January 13th. StockNews.com downgraded shares of Boot Barn from a "hold" rating to a "sell" rating in a research report on Monday, February 17th. Bank of America raised their price objective on shares of Boot Barn from $187.00 to $192.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $200.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Craig Hallum set a $178.00 price target on shares of Boot Barn in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.62.

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Boot Barn Price Performance

The company's 50 day simple moving average is $114.94 and its 200 day simple moving average is $138.52. The stock has a market cap of $2.98 billion, a P/E ratio of 17.42, 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 results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. On average, equities research analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BOOT. Signaturefd LLC increased its stake in Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after buying an additional 111 shares during the last quarter. Blue Trust Inc. increased its position in shares of Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company's stock worth $26,000 after purchasing an additional 143 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Boot Barn by 210.8% during the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after purchasing an additional 215 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after buying an additional 113 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Boot Barn in the fourth quarter valued at $102,000.

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.