Boot Barn (NYSE:BOOT) Raised to Buy at ValuEngine
BOOT has been the subject of a number of other research reports. DA Davidson started coverage on Boot Barn in a research note on Wednesday, June 19th. They issued a “buy” rating and a $41.00 price target for the company. Zacks Investment Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Wednesday, July 17th. Susquehanna Bancshares initiated coverage on Boot Barn in a research note on Friday, July 12th. They set a “neutral” rating and a $35.00 target price on the stock. Wells Fargo & Co set a $30.00 price target on Boot Barn and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Robert W. Baird downgraded Boot Barn from an “outperform” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.10.
Shares of BOOT stock traded up $0.87 during mid-day trading on Tuesday, reaching $35.23. 930,653 shares of the company’s stock traded hands, compared to its average volume of 890,646. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.16 and a current ratio of 1.14. The firm has a market capitalization of $993.10 million, a PE ratio of 28.41, a price-to-earnings-growth ratio of 1.13 and a beta of 2.32. Boot Barn has a 12 month low of $15.01 and a 12 month high of $39.59. The firm has a 50 day moving average price of $31.93 and a two-hundred day moving average price of $30.70.
In other news, CEO James Grant Conroy sold 28,569 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $35.00, for a total transaction of $999,915.00. Following the completion of the transaction, the chief executive officer now directly owns 39,647 shares in the company, valued at approximately $1,387,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Bettinelli sold 3,906 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.84, for a total transaction of $136,085.04. The disclosure for this sale can be found here. Insiders sold 142,192 shares of company stock worth $4,752,869 over the last quarter. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in shares of Boot Barn by 5.1% in the 2nd quarter. Jane Street Group LLC now owns 7,357 shares of the company’s stock valued at $262,000 after acquiring an additional 357 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Boot Barn by 43.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock worth $56,000 after buying an additional 476 shares during the period. Hancock Whitney Corp boosted its stake in Boot Barn by 1.7% during the second quarter. Hancock Whitney Corp now owns 29,110 shares of the company’s stock worth $1,037,000 after buying an additional 478 shares during the period. Private Capital Group LLC boosted its stake in Boot Barn by 110.6% during the second quarter. Private Capital Group LLC now owns 1,255 shares of the company’s stock worth $26,000 after buying an additional 659 shares during the period. Finally, Globeflex Capital L P increased its position in Boot Barn by 15.1% during the first quarter. Globeflex Capital L P now owns 6,159 shares of the company’s stock valued at $181,000 after acquiring an additional 810 shares during 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.
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