Zacks Investment Research lowered shares of Boot Barn (NYSE:BOOT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Boot Barn Holdings, Inc. operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. The company’s products include boots, denim, western shirts, cowboy hats, belts and belt buckles, and western-style jewellery and accessories; and rugged footwear, outerwear, overalls, denims, and shirts, as well as safety-toe boots, and flame-resistant and high-visibility clothing. It sells its products through bootbarn.com, an e-commerce Website. Boot Barn Holdings, Inc. is headquartered in Irvine, California. “
Other equities analysts also recently issued reports about the stock. ValuEngine upgraded shares of Boot Barn from a hold rating to a buy rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on shares of Boot Barn from $24.00 to $30.00 and gave the company an outperform rating in a research note on Wednesday, May 16th. They noted that the move was a valuation call. Piper Jaffray Companies increased their price objective on shares of Boot Barn to $30.00 and gave the company an overweight rating in a research note on Wednesday, May 16th. Pivotal Research set a $19.00 price objective on shares of Boot Barn and gave the company a hold rating in a research note on Wednesday, January 31st. Finally, Cowen began coverage on shares of Boot Barn in a research note on Monday, April 23rd. They set an outperform rating and a $22.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Boot Barn has a consensus rating of Buy and an average price target of $22.00.
Shares of Boot Barn opened at $23.40 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.22 and a current ratio of 1.60. The stock has a market capitalization of $642.94 million, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.11 and a beta of 1.58. Boot Barn has a one year low of $5.90 and a one year high of $26.25.
Boot Barn (NYSE:BOOT) last issued its earnings results on Tuesday, May 15th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.08. Boot Barn had a net margin of 4.26% and a return on equity of 9.93%. The business had revenue of $170.77 million for the quarter, compared to the consensus estimate of $164.19 million. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. equities analysts forecast that Boot Barn will post 1.02 EPS for the current fiscal year.
In other Boot Barn news, insider Laurie Marie Grijalva sold 12,387 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $18.50, for a total value of $229,159.50. Following the completion of the sale, the insider now directly owns 19,635 shares in the company, valued at $363,247.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 86,811 shares of company stock valued at $1,677,345. 4.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BOOT. Quantbot Technologies LP acquired a new stake in Boot Barn in the first quarter valued at approximately $101,000. SG Americas Securities LLC purchased a new position in shares of Boot Barn in the first quarter worth $107,000. Victory Capital Management Inc. purchased a new position in shares of Boot Barn in the first quarter worth $130,000. The Manufacturers Life Insurance Company raised its holdings in shares of Boot Barn by 811.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,908 shares of the company’s stock worth $165,000 after buying an additional 8,821 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Boot Barn in the first quarter worth $170,000. Institutional investors own 93.37% of the company’s stock.
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, ladies, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.
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