Boot Barn (NYSE:BOOT) Shares Down 4.3%

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) were down 4.3% during mid-day trading on Wednesday . The company traded as low as $146.69 and last traded at $146.81. Approximately 366,590 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 781,413 shares. The stock had previously closed at $153.42.

Analysts Set New Price Targets

BOOT has been the subject of several analyst reports. Piper Sandler raised their target price on Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup raised their price objective on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Boot Barn in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, UBS Group boosted their price target on shares of Boot Barn from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.10.

Boot Barn Stock Up 2.7 %

The company has a market capitalization of $4.71 billion, a P/E ratio of 32.23 and a beta of 2.11. The firm has a fifty day simple moving average of $131.79 and a 200-day simple moving average of $115.74.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The business had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. During the same period in the prior year, the business earned $1.11 EPS. Boot Barn’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Boot Barn by 186.6% during the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after acquiring an additional 1,675,410 shares during the last quarter. Wasatch Advisors LP lifted its position in Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after buying an additional 649,021 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Boot Barn during the 4th quarter worth about $32,361,000. Capital Research Global Investors bought a new position in shares of Boot Barn in the 1st quarter valued at about $32,779,000. Finally, Janus Henderson Group PLC increased its position in shares of Boot Barn by 1,212.4% in the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after acquiring an additional 263,444 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.