Boot Barn (NYSE:BOOT) Stock Rating Lowered by UBS Group

UBS Group cut shares of Boot Barn (NYSE:BOOT) from a buy rating to a neutral rating in a research note released on Wednesday, MarketBeat.com reports. The firm currently has $125.00 price target on the stock, down from their previous price target of $140.00.

Several other research firms have also weighed in on BOOT. Robert W. Baird increased their price target on Boot Barn from $100.00 to $132.00 and gave the company a neutral rating in a report on Friday, June 7th. Benchmark increased their target price on Boot Barn from $110.00 to $140.00 and gave the stock a buy rating in a research note on Monday, June 10th. Craig Hallum increased their target price on Boot Barn from $120.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. increased their target price on Boot Barn from $125.00 to $146.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. Finally, Piper Sandler increased their target price on Boot Barn from $94.00 to $110.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Boot Barn currently has a consensus rating of Moderate Buy and a consensus target price of $132.09.

Boot Barn Stock Performance

NYSE:BOOT opened at $129.83 on Wednesday. The stock’s fifty day moving average is $124.57 and its 200 day moving average is $102.89. Boot Barn has a fifty-two week low of $66.73 and a fifty-two week high of $134.61. The firm has a market capitalization of $3.96 billion, a PE ratio of 27.05 and a beta of 2.09.

Boot Barn (NYSE:BOOT) last released 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 return on equity of 16.84% and a net margin of 8.82%. The company had revenue of $388.46 million for the quarter, compared to analyst estimates of $383.67 million. Equities analysts forecast that Boot Barn will post 4.82 EPS for the current year.

Insider Transactions at Boot Barn

In other news, Director Brenda I. Morris sold 1,500 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the transaction, the director now owns 4,546 shares of the company’s stock, valued at approximately $500,560.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Brenda I. Morris sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the sale, the director now owns 4,546 shares of the company’s stock, valued at $500,560.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael A. Love sold 5,653 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the sale, the insider now directly owns 2,327 shares in the company, valued at approximately $264,370.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,795 shares of company stock valued at $1,329,686. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Boot Barn by 111.1% during the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Boot Barn in the second quarter worth about $84,000. Headlands Technologies LLC boosted its holdings in Boot Barn by 1,037.7% in the fourth quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after acquiring an additional 716 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Boot Barn by 11.2% in the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after acquiring an additional 94 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Boot Barn in the fourth quarter worth about $102,000.

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.