Boot Barn (BOOT) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of Boot Barn (NYSE:BOOT) from a buy rating to a hold rating in a research note issued to investors on Monday morning, ValuEngine reports.

Several other research firms also recently issued reports on BOOT. Pivotal Research restated a buy rating and issued a $25.00 price objective on shares of Boot Barn in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of Boot Barn from a hold rating to a buy rating and set a $35.00 price target for the company in a report on Tuesday, April 9th. Sidoti began coverage on shares of Boot Barn in a report on Thursday, March 14th. They set a buy rating for the company. Finally, Piper Jaffray Companies increased their price target on shares of Boot Barn from $33.00 to $41.00 and gave the stock an overweight rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $30.63.

Shares of BOOT stock opened at $26.67 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.62 and a quick ratio of 0.40. Boot Barn has a 12 month low of $15.01 and a 12 month high of $32.21. The firm has a market cap of $823.24 million, a P/E ratio of 38.10, a PEG ratio of 0.93 and a beta of 2.25.



In other news, Director Brenda I. Morris sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $28.04, for a total value of $196,280.00. Following the sale, the director now directly owns 17,724 shares in the company, valued at $496,980.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in BOOT. MetLife Investment Advisors LLC boosted its position in Boot Barn by 106.1% during the third quarter. MetLife Investment Advisors LLC now owns 19,747 shares of the company’s stock worth $561,000 after acquiring an additional 10,167 shares during the last quarter. Summit Creek Advisors LLC boosted its position in Boot Barn by 8.0% during the first quarter. Summit Creek Advisors LLC now owns 478,040 shares of the company’s stock worth $14,073,000 after acquiring an additional 35,410 shares during the last quarter. Vanguard Group Inc boosted its position in Boot Barn by 30.6% during the third quarter. Vanguard Group Inc now owns 1,814,323 shares of the company’s stock worth $51,544,000 after acquiring an additional 425,193 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Boot Barn during the fourth quarter worth approximately $2,947,000. Finally, Rhumbline Advisers boosted its position in Boot Barn by 54.1% during the fourth quarter. Rhumbline Advisers now owns 35,836 shares of the company’s stock worth $610,000 after acquiring an additional 12,580 shares during the last quarter.

Boot Barn Company Profile

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Boot Barn (NYSE:BOOT)

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