Boot Barn (NYSE:BOOT) Downgraded by Zacks Investment Research

Boot Barn (NYSE:BOOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Boot Barn Holdings, Inc. operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. The company’s products include boots, denim, western shirts, cowboy hats, belts and belt buckles, and western-style jewellery and accessories; and rugged footwear, outerwear, overalls, denims, and shirts, as well as safety-toe boots, and flame-resistant and high-visibility clothing. It sells its products through bootbarn.com, an e-commerce Website. Boot Barn Holdings, Inc. is headquartered in Irvine, California. “

BOOT has been the subject of a number of other reports. Cowen lowered their target price on Boot Barn from $50.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, March 13th. Pivotal Research lowered their target price on Boot Barn from $46.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, February 5th. Craig Hallum lowered their target price on Boot Barn from $53.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Piper Sandler increased their target price on Boot Barn from to and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Boot Barn in a research note on Monday, March 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.00.

Shares of NYSE:BOOT traded up $0.99 during mid-day trading on Monday, reaching $11.70. The stock had a trading volume of 1,058,893 shares, compared to its average volume of 1,173,551. The firm has a market cap of $324.09 million, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.27 and a beta of 2.83. The firm has a 50 day simple moving average of $22.80 and a two-hundred day simple moving average of $35.67. The company has a current ratio of 1.23, a quick ratio of 0.25 and a debt-to-equity ratio of 0.83. Boot Barn has a twelve month low of $8.03 and a twelve month high of $48.11.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The firm had revenue of $284.00 million during the quarter, compared to analyst estimates of $278.75 million. Boot Barn had a net margin of 5.99% and a return on equity of 17.37%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, equities analysts anticipate that Boot Barn will post 1.73 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its stake in shares of Boot Barn by 1.0% in the third quarter. California State Teachers Retirement System now owns 43,607 shares of the company’s stock valued at $1,522,000 after buying an additional 421 shares in the last quarter. FTB Advisors Inc. acquired a new position in Boot Barn in the fourth quarter valued at about $26,000. NEXT Financial Group Inc acquired a new position in Boot Barn in the fourth quarter valued at about $38,000. Point72 Hong Kong Ltd acquired a new position in Boot Barn in the fourth quarter valued at about $40,000. Finally, Advisory Services Network LLC raised its stake in Boot Barn by 2,925.8% in the fourth quarter. Advisory Services Network LLC now owns 938 shares of the company’s stock valued at $42,000 after purchasing an additional 907 shares in 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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