Boot Barn (NYSE:BOOT) Reaches New 1-Year Low – Here’s What Happened

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) hit a new 52-week low on Wednesday . The stock traded as low as $88.09 and last traded at $88.09, with a volume of 943933 shares trading hands. The stock had previously closed at $92.09.

Analyst Ratings Changes

BOOT has been the subject of several recent analyst reports. Stephens started coverage on Boot Barn in a research note on Wednesday, April 9th. They set an “overweight” rating and a $100.00 target price for the company. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. BTIG Research increased their target price on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Craig Hallum set a $178.00 target price on Boot Barn in a research report on Friday, January 31st. Finally, KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.62.

Boot Barn Trading Down 2.6 %

The stock has a market cap of $2.74 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.75. The stock has a 50 day simple moving average of $113.02 and a 200 day simple moving average of $137.73.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Boot Barn

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOOT. Vanguard Group Inc. increased 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 valued at $517,686,000 after buying an additional 73,089 shares during the period. FMR LLC increased its position in Boot Barn by 47.3% during the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock valued at $335,720,000 after purchasing an additional 709,903 shares during the period. Wellington Management Group LLP grew its holdings in Boot Barn by 48.6% during the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock worth $328,091,000 after acquiring an additional 706,518 shares during the period. Capital Research Global Investors grew its position in shares of Boot Barn by 32.6% during the 4th quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after buying an additional 280,892 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Boot Barn by 13.2% during the fourth quarter. Alliancebernstein L.P. now owns 846,983 shares of the company’s stock valued at $128,589,000 after purchasing an additional 99,029 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.