Boot Barn (NYSE:BOOT) Rating Lowered to Neutral at UBS Group

Boot Barn (NYSE:BOOT) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $125.00 price objective on the stock, down from their prior price objective of $140.00. UBS Group’s price objective would indicate a potential upside of 2.30% from the company’s current price.

BOOT has been the subject of several other reports. BTIG Research increased their price objective on Boot Barn from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Citigroup increased their price objective on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 19th. TD Cowen boosted their target price on Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Piper Sandler increased their price target on Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Craig Hallum upped their price objective on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Boot Barn currently has a consensus rating of “Moderate Buy” and an average target price of $132.09.

Boot Barn Stock Up 3.3 %

Shares of NYSE:BOOT opened at $122.19 on Wednesday. The company has a market cap of $3.73 billion, a PE ratio of 25.46 and a beta of 2.09. Boot Barn has a fifty-two week low of $66.73 and a fifty-two week high of $134.61. The firm has a 50-day simple moving average of $124.25 and a 200 day simple moving average of $102.31.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $383.67 million. As a group, research analysts forecast that Boot Barn will post 4.82 EPS for the current fiscal year.

Insider Transactions at Boot Barn

In other Boot Barn news, insider Michael A. Love sold 1,079 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total transaction of $118,916.59. Following the completion of the sale, the insider now directly owns 2,112 shares of the company’s stock, valued at approximately $232,763.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael A. Love sold 5,653 shares of Boot Barn stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total transaction of $642,237.33. Following the transaction, the insider now directly owns 2,327 shares of the company’s stock, valued at $264,370.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael A. Love sold 1,079 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total transaction of $118,916.59. Following the completion of the transaction, the insider now owns 2,112 shares of the company’s stock, valued at approximately $232,763.52. The disclosure for this sale can be found here. Insiders sold a total of 11,795 shares of company stock worth $1,329,686 over the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after buying an additional 1,675,410 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Boot Barn by 43.8% in the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after acquiring an additional 649,021 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Boot Barn during the 4th quarter worth about $32,361,000. Capital Research Global Investors bought a new stake in shares of Boot Barn in the 1st quarter valued at about $32,779,000. Finally, Janus Henderson Group PLC lifted its stake in Boot Barn by 1,212.4% in the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after purchasing an additional 263,444 shares during the last quarter.

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.