Zacks Investment Research downgraded shares of Boot Barn Holdings, Inc. (NYSE:BOOT) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

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. “

BOOT has been the subject of a number of other research reports. Robert W. Baird cut Boot Barn Holdings from an outperform rating to a neutral rating and boosted their price objective for the company from $14.00 to $17.00 in a research note on Wednesday, November 30th. B. Riley raised Boot Barn Holdings from a neutral rating to a buy rating and set a $15.50 target price on the stock in a report on Tuesday, January 3rd. J P Morgan Chase & Co raised Boot Barn Holdings from a neutral rating to a buy rating and boosted their target price for the company from $14.00 to $15.50 in a report on Tuesday, January 3rd. Mizuho initiated coverage on Boot Barn Holdings in a report on Thursday, December 15th. They issued a neutral rating and a $15.00 target price on the stock. Finally, Citigroup Inc. dropped their target price on Boot Barn Holdings from $11.00 to $9.00 and set a neutral rating on the stock in a report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $15.56.

Shares of Boot Barn Holdings (NYSE:BOOT) traded down 0.34% on Thursday, hitting $11.63. The stock had a trading volume of 202,695 shares. The firm has a 50 day moving average of $13.93 and a 200 day moving average of $12.01. The stock has a market cap of $308.04 million, a P/E ratio of 26.31 and a beta of 1.44. Boot Barn Holdings has a 12 month low of $5.20 and a 12 month high of $17.26.

Boot Barn Holdings (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.02 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.02. Boot Barn Holdings had a return on equity of 9.59% and a net margin of 1.97%. The company earned $134 million during the quarter, compared to analysts’ expectations of $131.61 million. During the same quarter in the previous year, the business earned $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 $0.67 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of BOOT. Rhumbline Advisers increased its stake in shares of 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 in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Boot Barn Holdings during the second quarter valued at about $127,000. Morgan Stanley increased its stake 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 valued at $130,000 after buying an additional 7,041 shares in the last quarter. Algert Global LLC bought a new stake in shares of Boot Barn Holdings during the third quarter valued at about $158,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Boot Barn Holdings during the second quarter valued at about $208,000.

Boot Barn Holdings Company Profile

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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