Boot Barn (NYSE:BOOT) Reaches New 12-Month High at $135.52

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price hit a new 52-week high on Wednesday . The company traded as high as $135.52 and last traded at $133.82, with a volume of 210045 shares trading hands. The stock had previously closed at $130.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BOOT shares. Robert W. Baird raised their price target on shares of Boot Barn from $100.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Citigroup raised their price target on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 19th. BTIG Research raised their target price on shares of Boot Barn from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. UBS Group lowered shares of Boot Barn from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $125.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $125.00 to $146.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.09.

Boot Barn Stock Performance

The stock has a market cap of $4.07 billion, a PE ratio of 27.81 and a beta of 2.09. The company’s 50-day moving average price is $125.21 and its 200 day moving average price is $103.90.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Tuesday, May 14th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.89 by $0.12. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The firm had revenue of $388.46 million for the quarter, compared to analyst estimates of $383.67 million. As a group, equities research analysts predict that Boot Barn Holdings, Inc. will post 4.92 earnings per share for the current fiscal year.

Insider Activity at Boot Barn

In related news, insider Michael A. Love sold 1,079 shares of Boot Barn stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total value of $118,916.59. Following the completion of the sale, the insider now owns 2,112 shares in the company, valued at approximately $232,763.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brenda I. Morris sold 1,500 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the transaction, the director now owns 4,546 shares of the company’s stock, valued at $500,560.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael A. Love sold 1,079 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total value of $118,916.59. Following the completion of the transaction, the insider now directly owns 2,112 shares in the company, valued at approximately $232,763.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,795 shares of company stock worth $1,329,686. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

Several large investors have recently bought and sold shares of the business. Kings Path Partners LLC purchased a new position in Boot Barn in the second quarter valued at $682,000. Principal Financial Group Inc. boosted its stake in Boot Barn by 14.3% in the second quarter. Principal Financial Group Inc. now owns 217,387 shares of the company’s stock valued at $28,028,000 after acquiring an additional 27,228 shares in the last quarter. F M Investments LLC acquired a new position in Boot Barn in the second quarter valued at $14,888,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Boot Barn by 3.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 51,562 shares of the company’s stock valued at $6,648,000 after acquiring an additional 1,909 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Boot Barn by 5.1% in the second quarter. Whittier Trust Co. now owns 104,255 shares of the company’s stock valued at $13,441,000 after acquiring an additional 5,024 shares in 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.