Boot Barn (NYSE:BOOT) Sets New 1-Year High – What’s Next?

Boot Barn Holdings, Inc. (NYSE:BOOT) hit a new 52-week high on Friday . The stock traded as high as $169.85 and last traded at $169.85, with a volume of 126710 shares traded. The stock had previously closed at $168.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. 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 report on Thursday. Citigroup dropped their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and increased their target price for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Finally, UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $155.00 to $210.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $173.00.

Boot Barn Trading Up 0.4 %

The company has a market capitalization of $5.16 billion, a PE ratio of 33.96, a PEG ratio of 1.48 and a beta of 2.10. The firm’s 50-day simple moving average is $149.86 and its 200-day simple moving average is $145.13.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Boot Barn Holdings, Inc. will post 5.8 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently added to or reduced their stakes in BOOT. Geode Capital Management LLC grew its holdings in Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after purchasing an additional 6,369 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Boot Barn in the 4th quarter worth $1,544,000. Algert Global LLC grew its stake in Boot Barn by 653.9% during the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after buying an additional 19,950 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in Boot Barn during the 3rd quarter valued at about $3,343,000. Finally, Victory Capital Management Inc. raised its stake in Boot Barn by 51.1% in the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock valued at $2,402,000 after buying an additional 4,856 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.