Boot Barn (NYSE:BOOT) Stock Price Down 4.4% – Here’s What Happened

Boot Barn Holdings, Inc. (NYSE:BOOT) shares fell 4.4% on Friday . The stock traded as low as $106.96 and last traded at $111.59. 70,911 shares changed hands during trading, a decline of 90% from the average session volume of 746,263 shares. The stock had previously closed at $116.69.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BOOT shares. Robert W. Baird cut their price target on shares of Boot Barn from $190.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. KeyCorp raised shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $181.00 price target (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Finally, StockNews.com lowered Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and an average price target of $181.92.

Boot Barn Trading Down 8.0 %

The stock has a 50 day moving average price of $146.84 and a 200 day moving average price of $147.35. The company has a market cap of $3.28 billion, a PE ratio of 19.23, a PEG ratio of 1.17 and a beta of 2.07.

Boot Barn (NYSE:BOOT) last posted its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. Equities analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Boot Barn

Hedge funds have recently modified their holdings of the business. Portside Wealth Group LLC purchased a new position in shares of Boot Barn in the 3rd quarter valued at $383,000. Legacy Capital Wealth Partners LLC acquired a new position in Boot Barn during the 3rd quarter valued at approximately $287,000. Crossmark Global Holdings Inc. lifted its stake in shares of Boot Barn by 3.7% during the third quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock worth $382,000 after buying an additional 82 shares during the period. Versor Investments LP purchased a new stake in shares of Boot Barn during the third quarter valued at $1,221,000. Finally, Entropy Technologies LP acquired a new position in shares of Boot Barn in the 3rd quarter valued at $719,000.

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.