Boot Barn (NYSE:BOOT) Downgraded by Craig Hallum

Boot Barn (NYSE:BOOT) was downgraded by investment analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $162.00 target price on the stock, up from their previous target price of $154.00. Craig Hallum’s price target would indicate a potential upside of 0.75% from the company’s previous close.

Several other equities analysts have also commented on BOOT. JPMorgan Chase & Co. increased their target price on shares of Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Robert W. Baird raised their price objective on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Citigroup boosted their target price on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 19th. UBS Group increased their target price on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Benchmark lifted their price target on Boot Barn from $140.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $157.20.

Boot Barn Stock Down 0.8 %

Shares of BOOT stock opened at $160.80 on Friday. The business has a 50-day moving average price of $153.78 and a two-hundred day moving average price of $130.91. Boot Barn has a 12-month low of $66.73 and a 12-month high of $169.83. The firm has a market cap of $4.89 billion, a P/E ratio of 33.50 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share 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 company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. During the same quarter in the previous year, the company posted $1.11 EPS. Boot Barn’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that Boot Barn will post 5.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Boot Barn by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after acquiring an additional 35,925 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Boot Barn during the 1st quarter valued at about $222,000. Congress Wealth Management LLC DE boosted its stake in shares of Boot Barn by 6.8% during the 1st quarter. Congress Wealth Management LLC DE now owns 81,304 shares of the company’s stock valued at $7,736,000 after purchasing an additional 5,171 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Boot Barn by 43.8% during the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after buying an additional 649,021 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its stake in Boot Barn by 1.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 9,342 shares of the company’s stock worth $889,000 after buying an additional 154 shares in 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.