Boot Barn (NYSE:BOOT) Trading Down 17.3% - Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) shares dropped 17.3% during mid-day trading on Thursday . The company traded as low as $99.31 and last traded at $95.03. Approximately 309,346 shares traded hands during trading, a decline of 60% from the average daily volume of 774,485 shares. The stock had previously closed at $114.85.

Analysts Set New Price Targets

Several analysts have recently commented on BOOT shares. 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 upped their price target on shares of Boot Barn from $187.00 to $192.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. StockNews.com cut Boot Barn from a "hold" rating to a "sell" rating in a report on Monday, February 17th. 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. Finally, Craig Hallum set a $178.00 target price on shares of Boot Barn in a report on Friday, January 31st. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $181.92.

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Boot Barn Price Performance

The firm has a market cap of $2.88 billion, a PE ratio of 16.85, a PEG ratio of 1.17 and a beta of 1.75. The business's 50 day moving average price is $122.65 and its 200 day moving average price is $141.22.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in Boot Barn by 1.4% in the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock valued at $901,000 after acquiring an additional 82 shares during the last quarter. Cetera Investment Advisers lifted its position in Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock worth $1,242,000 after buying an additional 83 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock worth $208,000 after buying an additional 97 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Boot Barn by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock valued at $470,000 after buying an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Boot Barn by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company's stock worth $2,247,000 after acquiring an additional 100 shares during 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.