Boot Barn (NYSE:BOOT) Stock Price Down 4.4% - What's Next?

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report)'s stock price fell 4.4% during trading on Friday . The stock traded as low as $106.96 and last traded at $111.59. 70,911 shares were traded during mid-day trading, a decline of 90% from the average session volume of 746,263 shares. The stock had previously closed at $116.69.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. KeyCorp upgraded shares of Boot Barn from a "sector weight" rating to an "overweight" rating and set a $190.00 price objective on the stock in a research report on Thursday, January 23rd. Piper Sandler reiterated an "overweight" rating and set a $181.00 price target (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Bank of America upped their price target on Boot Barn from $187.00 to $192.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. UBS Group decreased their price objective on Boot Barn from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Finally, Craig Hallum set a $178.00 target price on Boot Barn in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $181.92.

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Boot Barn Price Performance

The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 1.17 and a beta of 2.07. The business has a fifty day moving average of $143.08 and a 200 day moving average of $146.53.

Boot Barn (NYSE:BOOT - Get Free Report) last announced 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, analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Insider Buying and Selling 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 transaction of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares of the company's stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC bought a new stake in shares of Boot Barn during the 3rd quarter worth $287,000. Crossmark Global Holdings Inc. lifted its position in Boot Barn by 3.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company's stock worth $382,000 after acquiring an additional 82 shares during the last quarter. Versor Investments LP bought a new stake in Boot Barn during the third quarter valued at about $1,221,000. Entropy Technologies LP acquired a new stake in shares of Boot Barn in the third quarter valued at about $719,000. Finally, Victory Capital Management Inc. increased its stake in shares of Boot Barn by 51.1% in the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company's stock worth $2,402,000 after purchasing an additional 4,856 shares during the period.

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.