ValuEngine Downgrades Boot Barn (NYSE:BOOT) to Hold

ValuEngine downgraded shares of Boot Barn (NYSE:BOOT) from a buy rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

A number of other research firms have also recently commented on BOOT. DA Davidson began coverage on Boot Barn in a research note on Wednesday, June 19th. They set a buy rating and a $41.00 target price on the stock. Citigroup cut Boot Barn from a buy rating to a neutral rating and lowered their target price for the stock from $36.00 to $33.00 in a research note on Monday, July 15th. Wells Fargo & Co set a $30.00 target price on Boot Barn and gave the stock a hold rating in a research note on Friday, May 17th. Piper Jaffray Companies lifted their target price on Boot Barn from $41.00 to $46.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Susquehanna Bancshares began coverage on Boot Barn in a research note on Friday, July 12th. They set a neutral rating and a $35.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $35.10.

NYSE:BOOT traded down $2.49 during trading hours on Thursday, hitting $30.27. 2,008,012 shares of the company traded hands, compared to its average volume of 751,819. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.24 and a current ratio of 1.14. The business’s 50-day simple moving average is $33.92. Boot Barn has a one year low of $15.01 and a one year high of $39.59. The firm has a market cap of $932.89 million, a P/E ratio of 24.41, a PEG ratio of 1.21 and a beta of 2.37.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $185.77 million for the quarter, compared to analysts’ expectations of $179.98 million. Boot Barn had a return on equity of 15.99% and a net margin of 5.24%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. On average, analysts forecast that Boot Barn will post 1.66 earnings per share for the current fiscal year.

In other news, CEO James Grant Conroy sold 81,224 shares of Boot Barn stock in a transaction on Friday, June 14th. The stock was sold at an average price of $33.00, for a total transaction of $2,680,392.00. Following the sale, the chief executive officer now directly owns 25,868 shares in the company, valued at approximately $853,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can bought a new stake in Boot Barn in the 4th quarter valued at about $41,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Boot Barn by 43.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock valued at $56,000 after acquiring an additional 476 shares during the period. Quantamental Technologies LLC raised its stake in Boot Barn by 407.4% in the 1st quarter. Quantamental Technologies LLC now owns 2,740 shares of the company’s stock valued at $81,000 after acquiring an additional 2,200 shares during the period. Legal & General Group Plc raised its stake in Boot Barn by 7.8% in the 4th quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock valued at $86,000 after acquiring an additional 368 shares during the period. Finally, Aperio Group LLC bought a new stake in Boot Barn in the 2nd quarter valued at about $100,000.

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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