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

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

A number of other equities analysts have also commented on BOOT. Piper Sandler raised their target price on shares of Boot Barn from $94.00 to $110.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. TD Cowen lifted their price objective on shares of Boot Barn from $120.00 to $145.00 and gave the company a buy rating in a report on Wednesday, June 5th. Robert W. Baird lifted their price objective on shares of Boot Barn from $100.00 to $132.00 and gave the company a neutral rating in a report on Friday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $125.00 to $146.00 and gave the company an overweight rating in a report on Monday, July 22nd. Finally, BTIG Research lifted their price objective on shares of Boot Barn from $125.00 to $150.00 and gave the company a buy rating in a 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. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $132.09.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $129.83 on Wednesday. The firm has a market cap of $3.96 billion, a PE ratio of 27.05 and a beta of 2.09. The firm’s 50 day simple moving average is $124.57 and its 200-day simple moving average is $102.89. Boot Barn has a one year low of $66.73 and a one year high of $134.61.

Boot Barn (NYSE:BOOT) last issued its earnings results on Tuesday, May 14th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $388.46 million for the quarter, compared to analyst estimates of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. Equities research analysts predict that Boot Barn will post 4.82 EPS for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other news, insider John Hazen sold 3,563 shares of Boot Barn stock in a transaction on Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Brenda I. Morris sold 1,500 shares of Boot Barn stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the sale, the director now directly owns 4,546 shares in the company, valued at $500,560.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 1,309 shares of the company’s stock, valued at approximately $148,191.89. 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 three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Boot Barn by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock worth $210,638,000 after purchasing an additional 35,925 shares during the last quarter. Wellington Management Group LLP increased its holdings in Boot Barn by 186.6% in the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after buying an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP increased its holdings in Boot Barn by 43.8% in the first quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after buying an additional 649,021 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Boot Barn by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,810 shares of the company’s stock valued at $83,425,000 after buying an additional 16,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Boot Barn by 35.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after buying an additional 182,130 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.