Boot Barn (NYSE:BOOT) Downgraded by Robert W. Baird

Robert W. Baird lowered shares of Boot Barn (NYSE:BOOT) from an outperform rating to a neutral rating in a report issued on Monday, BenzingaRatingsTable reports. They currently have $36.00 target price on the stock.

BOOT has been the topic of a number of other research reports. Sidoti initiated coverage on Boot Barn in a research note on Thursday, March 14th. They set a buy rating on the stock. Wells Fargo & Co set a $9.00 price objective on Bausch Health Companies and gave the stock a sell rating in a research note on Friday, May 17th. Pivotal Research lowered Boot Barn from a buy rating to a hold rating and boosted their price objective for the stock from $28.00 to $30.00 in a research note on Monday, May 13th. DA Davidson initiated coverage on Nomad Foods in a research note on Wednesday, June 19th. They set a buy rating and a $26.00 price objective on the stock. Finally, Piper Jaffray Companies boosted their price objective on Boot Barn from $33.00 to $41.00 and gave the stock an overweight rating in a research note on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $33.67.

Shares of BOOT opened at $35.10 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.83 and a quick ratio of 0.24. Boot Barn has a one year low of $15.01 and a one year high of $37.15. The stock has a market capitalization of $999.55 million, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.37 and a beta of 2.38. The stock’s 50 day moving average price is $32.04.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.05. Boot Barn had a return on equity of 14.65% and a net margin of 5.02%. The firm had revenue of $192.76 million during the quarter, compared to analysts’ expectations of $189.29 million. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts predict that Boot Barn will post 1.51 EPS for the current year.

In other Boot Barn news, CEO James Grant Conroy sold 81,224 shares of the business’s stock in a transaction on 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 owns 25,868 shares of the company’s stock, valued at $853,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in BOOT. Great West Life Assurance Co. Can acquired a new position in shares of Boot Barn in the 4th quarter valued at $41,000. NumerixS Investment Technologies Inc acquired a new position in shares of Boot Barn in the 4th quarter valued at $46,000. PNC Financial Services Group Inc. lifted its stake in shares of Boot Barn by 106.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,541 shares of the company’s stock valued at $60,000 after purchasing an additional 1,827 shares during the last quarter. Quantamental Technologies LLC lifted its stake in shares of Boot Barn by 407.4% in the 1st quarter. Quantamental Technologies LLC now owns 2,740 shares of the company’s stock valued at $81,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Boot Barn by 7.8% in the 4th quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock valued at $86,000 after purchasing an additional 368 shares during 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.

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Analyst Recommendations for Boot Barn (NYSE:BOOT)

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