Boot Barn Holdings, Inc. (NYSE:BOOT) Sees Large Growth in Short Interest

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 3,130,000 shares, a growth of 34.9% from the January 31st total of 2,320,000 shares. Based on an average trading volume of 800,700 shares, the short-interest ratio is presently 3.9 days.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were 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 represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Boot Barn by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock valued at $517,686,000 after buying an additional 73,089 shares during the last quarter. FMR LLC raised its holdings in Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock valued at $335,720,000 after buying an additional 709,903 shares during the last quarter. Wellington Management Group LLP raised its holdings in Boot Barn by 48.6% in the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after buying an additional 706,518 shares during the last quarter. State Street Corp raised its holdings in Boot Barn by 4.4% in the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after buying an additional 51,356 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Boot Barn by 32.6% in the 4th quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock valued at $173,351,000 after buying an additional 280,892 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on BOOT. Robert W. Baird cut their price objective on shares of Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday. KeyCorp raised shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Thursday, January 23rd. Bank of America upped their price objective on shares of Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a research report on Friday, January 31st. Finally, UBS Group cut their price objective on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boot Barn presently has an average rating of “Moderate Buy” and a consensus target price of $181.92.

Boot Barn Trading Up 1.7 %

BOOT stock opened at $113.75 on Thursday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.17 and a beta of 2.07. Boot Barn has a 12 month low of $82.67 and a 12 month high of $176.64. The firm has a 50-day moving average price of $147.53 and a 200-day moving average price of $147.59.

Boot Barn (NYSE:BOOT) last posted its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, equities analysts predict that Boot Barn will post 5.82 EPS for the current fiscal year.

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.