The Zacks Investment Research Lowers Boot Barn Holdings Inc. (BOOT) to Sell

The Zacks Investment Research Lowers Boot Barn Holdings Inc. (BOOT) to Sell

Boot Barn Holdings Inc. (NYSE:BOOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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. “

Other equities research analysts have also issued research reports about the stock. B. Riley raised shares of Boot Barn Holdings from a “neutral” rating to a “buy” rating and set a $15.50 price target for the company in a research report on Tuesday, January 3rd. TheStreet lowered shares of Boot Barn Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, November 30th. Mizuho reduced their price target on shares of Boot Barn Holdings from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 10th. Finally, Jefferies Group upped their price target on shares of Boot Barn Holdings from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, December 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.56.

Shares of Boot Barn Holdings (NYSE:BOOT) traded down 0.60% during midday trading on Thursday, reaching $11.68. 492,618 shares of the company were exchanged. Boot Barn Holdings has a 12-month low of $5.20 and a 12-month high of $17.26. The stock has a market capitalization of $309.37 million, a P/E ratio of 26.43 and a beta of 1.44. The company has a 50 day moving average price of $13.48 and a 200-day moving average price of $12.13.

Boot Barn Holdings (NYSE:BOOT) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. Boot Barn Holdings had a net margin of 1.97% and a return on equity of 9.59%. The firm earned $134 million during the quarter, compared to analyst estimates of $131.61 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Boot Barn Holdings will post $0.66 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Boot Barn Holdings by 160.0% in the third quarter. Morgan Stanley now owns 11,442 shares of the company’s stock worth $130,000 after buying an additional 7,041 shares during the period. Rhumbline Advisers increased its position in Boot Barn Holdings by 25.6% in the second quarter. Rhumbline Advisers now owns 13,302 shares of the company’s stock valued at $115,000 after buying an additional 2,710 shares during the last quarter. Algert Global LLC acquired a new position in Boot Barn Holdings during the third quarter valued at $158,000. Quantitative Systematic Strategies LLC acquired a new position in Boot Barn Holdings during the second quarter valued at $127,000. Finally, BlackRock Inc. increased its position in Boot Barn Holdings by 8.6% in the third quarter. BlackRock Inc. now owns 21,360 shares of the company’s stock valued at $243,000 after buying an additional 1,700 shares during the last quarter.

About Boot Barn Holdings

Boot Barn Holdings, Inc is a lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company’s stores are located in or near neighborhood shopping centers with trade areas of approximately five or more miles, and it has opened stores in malls and outlet center locations.

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