Boot Barn (NYSE:BOOT) Shares Gap Down to $122.54

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $122.54, but opened at $118.25. Boot Barn shares last traded at $119.20, with a volume of 63,810 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. TD Cowen upped their target price on Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Piper Sandler upped their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Robert W. Baird lifted their price objective on shares of Boot Barn from $100.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, June 7th. UBS Group downgraded shares of Boot Barn from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $125.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Boot Barn from $125.00 to $146.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and a consensus target price of $132.09.

Boot Barn Stock Performance

The stock has a market cap of $3.61 billion, a PE ratio of 24.99 and a beta of 2.09. The business has a 50 day moving average price of $123.88 and a two-hundred day moving average price of $102.06.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.12. The business had revenue of $388.46 million for the quarter, compared to analysts’ expectations of $383.67 million. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. As a group, research analysts anticipate that Boot Barn Holdings, Inc. will post 4.82 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction of $403,367.23. Following the completion of the sale, the insider now owns 1,309 shares in the company, valued at $148,191.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Boot Barn news, insider Michael A. Love sold 5,653 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $113.61, for a total value of $642,237.33. Following the transaction, the insider now directly owns 2,327 shares in the company, valued at approximately $264,370.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction of $403,367.23. Following the completion of the sale, the insider now directly owns 1,309 shares in the company, valued at $148,191.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,795 shares of company stock valued at $1,329,686. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors have recently made changes to their positions in BOOT. GAMMA Investing LLC grew its position in Boot Barn by 111.1% in the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Boot Barn during the 2nd quarter valued at about $84,000. Headlands Technologies LLC lifted its position in Boot Barn by 1,037.7% in the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after buying an additional 716 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Boot Barn by 11.2% in the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after buying an additional 94 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Boot Barn during the fourth quarter valued at approximately $102,000.

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.