Boot Barn (NYSE:BOOT) Shares Down 11.5%

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) traded down 11.5% during mid-day trading on Friday . The company traded as low as $112.81 and last traded at $112.88. 411,840 shares were traded during mid-day trading, a decline of 49% from the average session volume of 802,597 shares. The stock had previously closed at $127.53.

Analyst Ratings Changes

BOOT has been the subject of several recent analyst reports. Piper Sandler boosted their target price on Boot Barn from $94.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Robert W. Baird upped their price objective on shares of Boot Barn from $100.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. TD Cowen boosted their price target on shares of Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. UBS Group cut shares of Boot Barn from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $125.00 in a research report on Wednesday, July 24th. Finally, Craig Hallum upped their target price on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Boot Barn has a consensus rating of “Moderate Buy” and an average price target of $132.09.

Boot Barn Stock Down 7.4 %

The stock has a market cap of $3.60 billion, a P/E ratio of 23.83 and a beta of 2.09. The company has a 50-day simple moving average of $125.67 and a two-hundred day simple moving average of $104.11.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.12. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The business had revenue of $388.46 million during the quarter, compared to analysts’ expectations of $383.67 million. As a group, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity at Boot Barn

In related news, insider John Hazen sold 3,563 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $113.21, for a total transaction of $403,367.23. Following the completion of the transaction, the insider now owns 1,309 shares in the company, valued at $148,191.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Brenda I. Morris sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the completion of the transaction, the director now owns 4,546 shares in the company, valued at approximately $500,560.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Hazen sold 3,563 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $113.21, for a total value of $403,367.23. Following the completion of the sale, the insider now directly owns 1,309 shares in the company, valued at $148,191.89. The disclosure for this sale can be found here. Insiders have sold a total of 11,795 shares of company stock worth $1,329,686 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Boot Barn by 111.1% in the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares during the last quarter. Headlands Technologies LLC increased its stake in Boot Barn by 1,037.7% during the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock valued at $60,000 after purchasing an additional 716 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Boot Barn in the second quarter worth about $84,000. Principal Securities Inc. bought a new position in shares of Boot Barn in the fourth quarter worth approximately $102,000. Finally, Quest Partners LLC purchased a new stake in shares of Boot Barn during the fourth quarter valued at approximately $112,000.

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.