Boot Barn (NYSE:BOOT) Reaches New 1-Year Low – Here’s Why

Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week low during trading on Friday . The company traded as low as $91.80 and last traded at $97.72, with a volume of 2571270 shares changing hands. The stock had previously closed at $114.85.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BOOT. UBS Group dropped their price target on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Piper Sandler restated an “overweight” rating and set a $181.00 price target (up from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. Robert W. Baird dropped their price objective on Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their target price on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.92.

Boot Barn Trading Up 0.1 %

The firm has a market cap of $2.99 billion, a PE ratio of 17.47, a PEG ratio of 1.17 and a beta of 1.75. The firm has a 50 day moving average price of $124.04 and a 200-day moving average price of $141.83.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. Vanguard Group Inc. lifted its holdings in Boot Barn by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock worth $517,686,000 after buying an additional 73,089 shares during the last quarter. FMR LLC lifted its stake in Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after purchasing an additional 709,903 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Boot Barn by 48.6% in the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after purchasing an additional 706,518 shares in the last quarter. State Street Corp increased its stake in Boot Barn by 4.4% in the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after purchasing an additional 51,356 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after purchasing an additional 280,892 shares in the last quarter.

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, 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.