Boot Barn Holdings, Inc. (NYSE:BOOT) Sees Significant Decline in Short Interest

Boot Barn Holdings, Inc. (NYSE:BOOT) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,570,000 shares, a decline of 7.6% from the September 15th total of 2,780,000 shares. Based on an average daily trading volume, of 637,500 shares, the short-interest ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BOOT. Robert W. Baird upped their price target on Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. BTIG Research lifted their price target on shares of Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Piper Sandler boosted their price target on shares of Boot Barn from $147.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group upped their price objective on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Benchmark upped their price objective on Boot Barn from $140.00 to $192.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Boot Barn Trading Down 0.4 %

Shares of NYSE BOOT traded down $0.72 during mid-day trading on Thursday, reaching $166.38. The company had a trading volume of 514,284 shares, compared to its average volume of 745,849. The stock has a market cap of $5.06 billion, a PE ratio of 34.66 and a beta of 2.12. Boot Barn has a 1-year low of $66.73 and a 1-year high of $169.83. The company has a 50-day moving average price of $150.30 and a two-hundred day moving average price of $128.40.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. The firm had revenue of $423.40 million for the quarter, compared to analyst estimates of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 earnings per share. On average, research analysts expect that Boot Barn will post 5.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Boot Barn by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after purchasing an additional 35,925 shares during the last quarter. Wellington Management Group LLP raised its holdings in Boot Barn by 186.6% during the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after purchasing an additional 1,675,410 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Boot Barn by 43.8% in the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock valued at $202,830,000 after acquiring an additional 649,021 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Boot Barn by 35.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after acquiring an additional 182,130 shares during the period. Finally, Congress Asset Management Co. MA lifted its position in Boot Barn by 17.1% in the 1st quarter. Congress Asset Management Co. MA now owns 558,235 shares of the company’s stock valued at $53,116,000 after acquiring an additional 81,503 shares in the last quarter.

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.