Boot Barn (NYSE:BOOT) Trading Down 5% – Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price dropped 5% during mid-day trading on Tuesday . The stock traded as low as $92.55 and last traded at $92.94. Approximately 416,812 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 803,079 shares. The stock had previously closed at $97.85.

Analyst Upgrades and Downgrades

BOOT has been the topic of a number of recent analyst reports. Craig Hallum set a $178.00 price objective on shares of Boot Barn in a research report on Friday, January 31st. StockNews.com downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Piper Sandler reissued an “overweight” rating and issued a $181.00 price objective (up from $179.00) on shares of Boot Barn in a research report on Friday, January 31st. Stephens initiated coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 target price on the stock. Finally, BTIG Research increased their price objective on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.62.

Boot Barn Stock Up 2.0 %

The firm has a market cap of $2.80 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.75. The stock has a 50 day moving average price of $112.02 and a two-hundred day moving average price of $137.39.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake 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 buying an additional 143 shares during the period. Signaturefd LLC grew its position in shares of Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock valued at $25,000 after purchasing an additional 111 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Boot Barn during the first quarter worth about $29,000. Versant Capital Management Inc lifted its stake in Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock valued at $34,000 after buying an additional 215 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company’s stock worth $55,000 after buying an additional 113 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.