Rating Worth Mentioning: Baird Reports Downgrade of Boot Barn Holdings (NYSE:BOOT) with $17.00 Target

November 30, 2016 - By Marie Mckinney

Rating Worth Mentioning:  Baird Reports Downgrade of Boot Barn Holdings (NYSE:BOOT) with $17.00 Target

Boot Barn Holdings (NYSE:BOOT) Downgrade

In a a research report published on Wednesday morning, Baird stated it was downgrading Boot Barn Holdings (NYSE:BOOT) stock from a “Outperform” to a “Neutral”. The firm has a $17.00 target on BOOT’s stock.

Boot Barn Holdings Inc (NYSE:BOOT) Ratings Coverage

Out of 8 analysts covering Boot Barn Holdings (NYSE:BOOT), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $29.0 is the highest target while $7 is the lowest. The $14.10 average target is -11.38% below today’s ($15.91) stock price. Boot Barn Holdings has been the topic of 19 analyst reports since September 30, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by R. RIley on Wednesday, February 3. The rating was downgraded by B. Riley & Co on Monday, October 26 to “Neutral”. The rating was downgraded by Wells Fargo to “Market Perform” on Thursday, November 19. Citigroup maintained the shares of BOOT in a report on Monday, March 21 with “Neutral” rating. The company was maintained on Wednesday, September 30 by Piper Jaffray. The firm earned “Hold” rating on Wednesday, November 11 by BB&T Capital. B. Riley & Co downgraded the shares of BOOT in a report on Friday, September 9 to “Neutral” rating. Citigroup maintained Boot Barn Holdings Inc (NYSE:BOOT) on Wednesday, July 20 with “Neutral” rating. The stock of Boot Barn Holdings Inc (NYSE:BOOT) earned “Neutral” rating by JP Morgan on Friday, April 8. The firm has “Neutral” rating by Citigroup given on Friday, May 20.

About 129,250 shares traded hands. Boot Barn Holdings Inc (NYSE:BOOT) has risen 90.43% since April 27, 2016 and is uptrending. It has outperformed by 85.20% the S&P500.

Analysts await Boot Barn Holdings Inc (NYSE:BOOT) to report earnings on February, 7. They expect $0.42 earnings per share, down 6.67% or $0.03 from last year’s $0.45 per share. BOOT’s profit will be $10.99M for 9.47 P/E if the $0.42 EPS becomes a reality. After $0.02 actual earnings per share reported by Boot Barn Holdings Inc for the previous quarter, Wall Street now forecasts 2,000.00% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.25, from 1.02 in 2016Q1. The ratio is positive, as 21 funds sold all Boot Barn Holdings Inc shares owned while 20 reduced positions. 18 funds bought stakes while 24 increased positions. They now own 27.96 million shares or 0.03% less from 27.97 million shares in 2016Q1.

Royal Bank Of Canada has 210 shares for 0% of their US portfolio. Rhumbline Advisers holds 0% or 13,302 shares in its portfolio. Blackrock Fund Advsr has invested 0% of its portfolio in Boot Barn Holdings Inc (NYSE:BOOT). Invesco Ltd has 14,966 shares for 0% of their US portfolio. Price T Rowe Assoc Incorporated Md reported 85,070 shares or 0% of all its holdings. Jpmorgan Chase And last reported 0% of its portfolio in the stock. Stephens Inv Mngmt Grp Lc owns 947,910 shares or 0.27% of their US portfolio. The New York-based Tower Research Limited Company (Trc) has invested 0% in Boot Barn Holdings Inc (NYSE:BOOT). Tiaa Cref Inv Management Ltd Co, a New York-based fund reported 43,401 shares. Citigroup, a New York-based fund reported 64,097 shares. Parametric Assoc Ltd Liability Corporation accumulated 0% or 95,981 shares. Teachers Advsrs last reported 0% of its portfolio in the stock. Awm Inv Comm Inc holds 142,000 shares or 0.26% of its portfolio. Dimensional Fund Advisors Ltd Partnership accumulated 24,164 shares or 0% of the stock. Blackrock Invest Management Ltd Llc holds 0% of its portfolio in Boot Barn Holdings Inc (NYSE:BOOT) for 67,019 shares.

Boot Barn Holdings, Inc. is a lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The company has a market cap of $416.31 million. 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. It has a 35.48 P/E ratio. The Company’s stores average an area of approximately 11,490 square feet and feature an assortment of brands and styles.

According to Zacks Investment Research, “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 Company Profile

Boot Barn Holdings, Inc., incorporated on November 17, 2011, 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. The Company’s stores average an area of approximately 11,490 square feet and feature an assortment of brands and styles. The Company’s boot selection, which consists of approximately one-third of each store’s selling square footage space, is merchandised on self-service fixtures with western boots arranged by size and work boots arranged by brand. It also carries assortments of denim, western shirts, cowboy hats, belts and belt buckles, western-style jewelry and accessories.

More news for Boot Barn Holdings Inc (NYSE:BOOT) were recently published by: Fool.com, which released: “Why Boot Barn Holdings Inc. Stock Plunged Today” on January 12, 2016. Ocbj.com‘s article titled: “Boot Barn Meets Street Targets” and published on August 01, 2016 is yet another important article.

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