Robert W. Baird Issues Pessimistic Forecast for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT - Free Report) had its price target reduced by Robert W. Baird from $133.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

BOOT has been the subject of several other research reports. Bank of America boosted their price target on shares of Boot Barn from $187.00 to $192.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Stephens assumed coverage on shares of Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target on the stock. BTIG Research increased their price objective on Boot Barn from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, January 13th. KeyCorp upgraded Boot Barn from a "sector weight" rating to an "overweight" rating and set a $190.00 price target on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded Boot Barn from a "hold" rating to a "sell" rating in a report on Monday, February 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.23.

Boot Barn Stock Performance

Shares of BOOT traded up $0.47 during mid-day trading on Wednesday, hitting $103.06. 290,457 shares of the company's stock were exchanged, compared to its average volume of 815,263. The stock's 50-day moving average is $106.43 and its 200-day moving average is $133.67. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.17 and a beta of 1.75. Boot Barn has a fifty-two week low of $86.17 and a fifty-two week high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, equities research analysts anticipate that Boot Barn will post 5.82 EPS for the current year.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 111 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Boot Barn by 1,430.0% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the company's stock worth $26,000 after acquiring an additional 143 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Boot Barn during the first quarter worth approximately $29,000. Golden State Wealth Management LLC raised its stake in shares of Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after acquiring an additional 203 shares during the period. Finally, Versant Capital Management Inc grew its stake in Boot Barn by 210.8% during the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after purchasing an additional 215 shares in the last quarter.

About Boot Barn

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.