ValuEngine Lowers Boot Barn (BOOT) to Buy

ValuEngine downgraded shares of Boot Barn (NYSE:BOOT) from a strong-buy rating to a buy rating in a report published on Saturday.

A number of other equities analysts have also recently weighed in on BOOT. Zacks Investment Research raised Boot Barn from a hold rating to a buy rating and set a $26.00 price target on the stock in a research note on Tuesday, July 17th. Pivotal Research set a $24.00 target price on Boot Barn and gave the company a hold rating in a research note on Wednesday, August 8th. TheStreet raised Boot Barn from a c+ rating to a b rating in a research note on Tuesday, August 28th. Finally, Citigroup lifted their target price on Boot Barn from $28.00 to $33.00 and gave the company a buy rating in a research note on Friday, September 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Boot Barn currently has a consensus rating of Buy and a consensus target price of $26.33.

Shares of BOOT opened at $25.97 on Friday. The stock has a market capitalization of $795.36 million, a P/E ratio of 37.09, a P/E/G ratio of 1.15 and a beta of 1.84. Boot Barn has a 1-year low of $7.37 and a 1-year high of $31.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.20 and a current ratio of 1.59.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $161.98 million for the quarter, compared to analysts’ expectations of $159.57 million. Boot Barn had a return on equity of 11.04% and a net margin of 4.98%. As a group, equities analysts forecast that Boot Barn will post 1.08 EPS for the current year.

In other news, CEO James Grant Conroy sold 98,870 shares of Boot Barn stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $27.67, for a total transaction of $2,735,732.90. Following the completion of the sale, the chief executive officer now directly owns 64,515 shares in the company, valued at approximately $1,785,130.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Laurie Marie Grijalva sold 41,779 shares of Boot Barn stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $29.90, for a total value of $1,249,192.10. Following the sale, the insider now owns 18,327 shares of the company’s stock, valued at $547,977.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 238,193 shares of company stock worth $6,841,756. Company insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Boot Barn during the 1st quarter valued at about $101,000. SG Americas Securities LLC acquired a new stake in shares of Boot Barn during the 1st quarter valued at about $107,000. Envestnet Asset Management Inc. acquired a new stake in shares of Boot Barn during the 2nd quarter valued at about $142,000. Victory Capital Management Inc. acquired a new stake in shares of Boot Barn during the 1st quarter valued at about $130,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Boot Barn during the 1st quarter valued at about $170,000.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Boot Barn (NYSE:BOOT)

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