Boot Barn (NYSE:BOOT) Rating Lowered to Hold at ValuEngine

Boot Barn (NYSE:BOOT) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Wednesday, July 17th. Piper Jaffray Companies boosted their target price on shares of Boot Barn from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Susquehanna Bancshares assumed coverage on shares of Boot Barn in a research report on Friday, July 12th. They set a “neutral” rating and a $35.00 target price for the company. Wells Fargo & Co set a $30.00 target price on shares of Boot Barn and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, Robert W. Baird lowered shares of Boot Barn from an “outperform” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Monday, July 8th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $35.10.

Boot Barn stock traded down $2.49 on Thursday, reaching $30.27. 2,008,012 shares of the stock were exchanged, compared to its average volume of 593,016. The firm has a market cap of $862.09 million, a PE ratio of 24.41, a PEG ratio of 1.21 and a beta of 2.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.24 and a current ratio of 1.83. Boot Barn has a twelve month low of $15.01 and a twelve month high of $39.59. The company’s fifty day moving average is $33.92.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.11. The firm had revenue of $185.77 million during the quarter, compared to analyst estimates of $179.98 million. Boot Barn had a net margin of 5.24% and a return on equity of 16.38%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. Equities analysts anticipate that Boot Barn will post 1.6 EPS for the current fiscal year.

In other news, CEO James Grant Conroy sold 81,224 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $33.00, for a total transaction of $2,680,392.00. Following the completion of the transaction, the chief executive officer now owns 25,868 shares of the company’s stock, valued at $853,644. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Boot Barn by 7.8% during the fourth quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock valued at $86,000 after buying an additional 368 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Boot Barn by 43.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock valued at $56,000 after buying an additional 476 shares during the last quarter. Globeflex Capital L P raised its position in shares of Boot Barn by 15.1% during the first quarter. Globeflex Capital L P now owns 6,159 shares of the company’s stock valued at $181,000 after buying an additional 810 shares during the last quarter. Swiss National Bank raised its position in shares of Boot Barn by 1.9% during the second quarter. Swiss National Bank now owns 52,700 shares of the company’s stock valued at $1,878,000 after buying an additional 1,000 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC raised its position in shares of Boot Barn by 14.8% during the second quarter. Quantitative Systematic Strategies LLC now owns 8,158 shares of the company’s stock valued at $291,000 after buying an additional 1,050 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.

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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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