Zacks Investment Research lowered shares of Boot Barn (NYSE:BOOT) from a strong-buy rating to a hold rating in a research note released on Tuesday.
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. “
A number of other analysts have also recently commented on BOOT. ValuEngine cut Boot Barn from a strong-buy rating to a buy rating in a research report on Saturday, October 6th. Pivotal Research set a $24.00 target price on Boot Barn and gave the stock a hold rating in a research report on Wednesday, August 8th. William Blair began coverage on Boot Barn in a research report on Tuesday. They set an outperform rating on the stock. Citigroup lifted their target price on Boot Barn from $28.00 to $33.00 and gave the stock a buy rating in a research report on Friday, September 21st. Finally, TheStreet upgraded Boot Barn from a c+ rating to a b rating in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $26.78.
Shares of NYSE BOOT opened at $27.13 on Tuesday. The stock has a market cap of $795.36 million, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.84. The company has a quick ratio of 0.20, a current ratio of 1.59 and a debt-to-equity ratio of 0.80. Boot Barn has a 1 year low of $7.37 and a 1 year high of $31.61.
Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Boot Barn had a return on equity of 11.04% and a net margin of 4.98%. The company had revenue of $161.98 million during the quarter, compared to the consensus estimate of $159.57 million. On average, equities research analysts expect that Boot Barn will post 1.08 EPS for the current fiscal year.
In related news, CEO James Grant Conroy sold 98,870 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $27.67, for a total value of $2,735,732.90. Following the transaction, the chief executive officer now owns 64,515 shares in the company, valued at approximately $1,785,130.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg Bettinelli sold 4,726 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $26.18, for a total value of $123,726.68. Following the completion of the transaction, the director now owns 12,995 shares in the company, valued at approximately $340,209.10. The disclosure for this sale can be found here. Insiders sold a total of 238,193 shares of company stock worth $6,841,756 in the last 90 days. 2.00% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Boot Barn in the 1st quarter valued at about $101,000. SG Americas Securities LLC acquired a new position in Boot Barn in the 1st quarter valued at about $107,000. Envestnet Asset Management Inc. acquired a new position in Boot Barn in the 2nd quarter valued at about $142,000. MetLife Investment Advisors LLC acquired a new position in Boot Barn in the 1st quarter valued at about $170,000. Finally, Raymond James & Associates acquired a new position in Boot Barn in the 2nd quarter valued at about $201,000.
Boot Barn Company Profile
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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