Boot Barn Holdings Inc. (BOOT) Rating Lowered to Neutral at Robert W. Baird
Boot Barn Holdings Inc. (NYSE:BOOT) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Wednesday. They presently have a $17.00 target price on the stock, up from their prior target price of $14.00. Robert W. Baird’s price objective would indicate a potential upside of 4.17% from the company’s current price.
A number of other research firms have also recently issued reports on BOOT. B. Riley reiterated a “neutral” rating and issued a $12.00 target price on shares of Boot Barn Holdings in a research note on Wednesday, September 14th. Zacks Investment Research cut Boot Barn Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. upgraded Boot Barn Holdings from a “neutral” rating to a “buy” rating and raised their target price for the company from $12.00 to $19.00 in a research note on Monday, November 14th. Finally, Jefferies Group reiterated a “buy” rating and issued a $15.00 target price (up from $13.00) on shares of Boot Barn Holdings in a research note on Friday, October 28th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $13.71.
Shares of Boot Barn Holdings (NYSE:BOOT) opened at 16.32 on Wednesday. The firm has a market capitalization of $432.27 million, a PE ratio of 36.92 and a beta of 1.37. The company has a 50-day moving average of $13.33 and a 200-day moving average of $10.68. Boot Barn Holdings has a 52 week low of $5.20 and a 52 week high of $17.26.
Boot Barn Holdings (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Boot Barn Holdings had a return on equity of 9.59% and a net margin of 1.97%. The firm had revenue of $134 million for the quarter, compared to analysts’ expectations of $131.61 million. During the same period last year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Boot Barn Holdings will post $0.71 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOOT. California State Teachers Retirement System raised its position in Boot Barn Holdings by 9.0% in the second quarter. California State Teachers Retirement System now owns 27,943 shares of the company’s stock worth $241,000 after buying an additional 2,302 shares during the last quarter. Algert Global LLC purchased a new position in Boot Barn Holdings during the third quarter worth about $158,000. Quantitative Systematic Strategies LLC purchased a new position in Boot Barn Holdings during the second quarter worth about $127,000. Bank of New York Mellon Corp raised its position in Boot Barn Holdings by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 109,648 shares of the company’s stock worth $945,000 after buying an additional 631 shares during the last quarter. Finally, Boston Partners purchased a new position in Boot Barn Holdings during the second quarter worth about $2,357,000.
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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