Boot Barn (NYSE:BOOT) Hits New 12-Month Low – Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT) shares hit a new 52-week low on Friday . The stock traded as low as $91.80 and last traded at $97.72, with a volume of 2571270 shares traded. The stock had previously closed at $114.85.

Wall Street Analyst Weigh In

BOOT has been the subject of several analyst reports. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Thursday, January 23rd. Bank of America upped their price objective on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. StockNews.com lowered shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Piper Sandler reissued an “overweight” rating and set a $181.00 price target (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Finally, UBS Group decreased their price objective on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and a consensus price target of $181.92.

Boot Barn Stock Up 0.1 %

The company has a 50-day moving average of $124.04 and a 200 day moving average of $141.83. The stock has a market capitalization of $2.99 billion, a PE ratio of 17.47, a PEG ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, equities analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BOOT. Versant Capital Management Inc increased its position in Boot Barn by 210.8% during the first quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock worth $34,000 after purchasing an additional 215 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Boot Barn during the 4th quarter worth approximately $5,854,000. Azzad Asset Management Inc. ADV raised its position in shares of Boot Barn by 65.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,520 shares of the company’s stock valued at $2,356,000 after buying an additional 6,149 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Boot Barn in the fourth quarter valued at approximately $1,818,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Boot Barn by 23.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,832 shares of the company’s stock worth $10,602,000 after acquiring an additional 13,346 shares during the period.

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.