Boot Barn (NYSE:BOOT) Lowered to "Sell" Rating by StockNews.com

StockNews.com cut shares of Boot Barn (NYSE:BOOT - Free Report) from a hold rating to a sell rating in a report issued on Monday.

BOOT has been the subject of several other research reports. Benchmark reaffirmed a "buy" rating and issued a $192.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Boot Barn from $200.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Citigroup reduced their price target on Boot Barn from $194.00 to $178.00 and set a "buy" rating for the company in a report on Tuesday, October 29th. Finally, BTIG Research increased 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boot Barn currently has a consensus rating of "Moderate Buy" and an average price target of $181.58.

Boot Barn Trading Down 3.1 %

NYSE:BOOT traded down $4.11 during mid-day trading on Monday, hitting $128.11. 757,113 shares of the company's stock were exchanged, compared to its average volume of 945,370. The company has a 50 day simple moving average of $151.45 and a 200-day simple moving average of $147.75. Boot Barn has a fifty-two week low of $82.67 and a fifty-two week high of $176.64. The firm has a market capitalization of $3.92 billion, a P/E ratio of 22.88, a PEG ratio of 1.18 and a beta of 2.10.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts expect that Boot Barn will post 5.82 earnings per share for the current year.

Insider Activity at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares of the company's stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Boot Barn by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company's stock worth $517,686,000 after buying an additional 73,089 shares during the last quarter. FMR LLC boosted its position in 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 in the last quarter. Wellington Management Group LLP boosted its position in Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after purchasing an additional 706,518 shares in the last quarter. State Street Corp boosted its position in Boot Barn by 4.4% during the third quarter. State Street Corp now owns 1,208,345 shares of the company's stock worth $202,132,000 after purchasing an additional 51,356 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock worth $173,351,000 after purchasing 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.