Boot Barn (NYSE:BOOT) Shares Gap Down – Should You Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $91.92, but opened at $88.23. Boot Barn shares last traded at $90.14, with a volume of 246,066 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on BOOT shares. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. BTIG Research lifted their price target on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group reduced their price objective on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Bank of America boosted their target price on shares of Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Craig Hallum set a $178.00 price target on shares of Boot Barn in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and a consensus price target of $175.62.

Boot Barn Stock Down 1.2 %

The firm has a market cap of $2.99 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.75. The firm’s 50-day moving average price is $115.87 and its 200 day moving average price is $139.19.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after purchasing an additional 6,369 shares during the period. Dale Q Rice Investment Management Ltd bought a new stake in shares of Boot Barn during the 4th quarter worth about $1,544,000. Stephens Investment Management Group LLC acquired a new stake in shares of Boot Barn in the 4th quarter worth approximately $46,699,000. Alberta Investment Management Corp bought a new position in shares of Boot Barn in the fourth quarter valued at approximately $2,842,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Boot Barn by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock valued at $54,439,000 after acquiring an additional 5,881 shares during the period.

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.