Boot Barn (NYSE:BOOT) Shares Gap Down – Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOTGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at $174.52, but opened at $157.25. Boot Barn shares last traded at $165.82, with a volume of 226,169 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on BOOT shares. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Citigroup reduced their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Craig Hallum lowered Boot Barn from a “buy” rating to a “hold” rating and raised their target price for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $181.00 price target (up previously from $179.00) on shares of Boot Barn in a research report on Friday. Finally, KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Buy” and an average price target of $182.42.

Read Our Latest Report on BOOT

Boot Barn Stock Performance

The company has a market cap of $4.90 billion, a P/E ratio of 32.27, a PEG ratio of 1.57 and a beta of 2.10. The firm’s 50-day simple moving average is $153.42 and its 200 day simple moving average is $146.62.

Boot Barn (NYSE:BOOTGet Free Report) last issued 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 return on equity of 15.89% and a net margin of 8.73%. As a group, research analysts forecast that Boot Barn Holdings, Inc. will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Boot Barn

Large investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new position in shares of Boot Barn in the third quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings in Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after purchasing an additional 143 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after purchasing an additional 268 shares during the period. USA Financial Formulas bought a new stake in shares of Boot Barn in the third quarter valued at about $92,000. Finally, R Squared Ltd acquired a new position in shares of Boot Barn during the fourth quarter worth about $102,000.

About Boot Barn

(Get Free Report)

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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