Boot Barn (NYSE:BOOT) Stock Price Down 6.6%

Boot Barn Holdings Inc (NYSE:BOOT) fell 6.6% during trading on Wednesday . The stock traded as low as $29.17 and last traded at $29.19, 794,162 shares changed hands during mid-day trading. A decline of 12% from the average session volume of 907,050 shares. The stock had previously closed at $31.26.

Several research firms recently commented on BOOT. Robert W. Baird downgraded Boot Barn from an “outperform” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Monday, July 8th. Piper Jaffray Companies lifted their price objective on Boot Barn from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. ValuEngine downgraded Boot Barn from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson began coverage on Boot Barn in a report on Wednesday, June 19th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Citigroup downgraded Boot Barn from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $33.00 in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Boot Barn presently has a consensus rating of “Buy” and a consensus target price of $35.10.

The company’s 50 day moving average price is $33.12. The stock has a market cap of $854.03 million, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.09 and a beta of 2.37. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.14 and a quick ratio of 0.16.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.11. The business had revenue of $185.77 million during the quarter, compared to the consensus estimate of $179.98 million. Boot Barn had a return on equity of 15.99% and a net margin of 5.24%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. On average, sell-side analysts predict that Boot Barn Holdings Inc will post 1.66 earnings per share for the current year.

In other news, CEO James Grant Conroy sold 81,224 shares of Boot Barn stock in a transaction dated 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 transaction, the chief executive officer now directly owns 25,868 shares of the company’s stock, valued at approximately $853,644. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC purchased a new position in Boot Barn in the 2nd quarter worth approximately $33,000. Sterling Investment Advisors Ltd. purchased a new position in Boot Barn in the 2nd quarter worth approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Boot Barn by 43.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock worth $56,000 after purchasing an additional 476 shares in the last quarter. Quantamental Technologies LLC lifted its holdings in Boot Barn by 407.4% in the 1st quarter. Quantamental Technologies LLC now owns 2,740 shares of the company’s stock worth $81,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Boot Barn by 7.8% in the 4th quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock worth $86,000 after purchasing an additional 368 shares in the last quarter.

Boot Barn Company Profile (NYSE:BOOT)

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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