Boot Barn (BOOT) Downgraded by Pivotal Research to Hold

Boot Barn (NYSE:BOOT) was downgraded by equities researchers at Pivotal Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $30.00 price target on the stock, up from their prior price target of $28.00. Pivotal Research’s target price suggests a potential upside of 11.07% from the stock’s current price.

BOOT has been the topic of several other reports. Zacks Investment Research lowered shares of Boot Barn from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. ValuEngine raised shares of Boot Barn from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Finally, Sidoti started coverage on shares of Boot Barn in a research report on Thursday, March 14th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.63.

BOOT opened at $27.01 on Monday. The company has a current ratio of 1.62, a quick ratio of 0.40 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $743.07 million, a price-to-earnings ratio of 23.84, a PEG ratio of 0.84 and a beta of 2.25. Boot Barn has a twelve month low of $15.01 and a twelve month high of $32.21.

In other news, Director Brenda I. Morris sold 7,000 shares of Boot Barn stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $28.04, for a total value of $196,280.00. Following the completion of the transaction, the director now owns 17,724 shares of the company’s stock, valued at approximately $496,980.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BOOT. Jennison Associates LLC acquired a new stake in shares of Boot Barn during the 1st quarter worth about $14,318,000. Summit Creek Advisors LLC acquired a new stake in shares of Boot Barn during the 4th quarter worth about $7,538,000. Vanguard Group Inc lifted its stake in shares of Boot Barn by 30.6% during the 3rd quarter. Vanguard Group Inc now owns 1,814,323 shares of the company’s stock worth $51,544,000 after buying an additional 425,193 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Boot Barn by 30.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,814,323 shares of the company’s stock worth $51,544,000 after buying an additional 425,193 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Boot Barn during the 4th quarter worth about $5,044,000.

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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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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