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

Boot Barn Holdings, Inc. (NYSE:BOOT) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,440,000 shares, a decrease of 5.1% from the September 30th total of 2,570,000 shares. Based on an average trading volume of 568,900 shares, the short-interest ratio is presently 4.3 days.

Boot Barn Trading Down 1.7 %

Shares of BOOT opened at $127.12 on Thursday. The firm has a market cap of $3.86 billion, a P/E ratio of 26.48 and a beta of 2.12. The company’s 50-day moving average price is $154.30 and its 200 day moving average price is $132.35. Boot Barn has a 12-month low of $66.73 and a 12-month high of $169.83.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities research analysts forecast that Boot Barn will post 5.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on BOOT. UBS Group raised their target price on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Williams Trading reissued a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.55.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. James Investment Research Inc. grew its stake in shares of Boot Barn by 10.4% in the third quarter. James Investment Research Inc. now owns 12,274 shares of the company’s stock valued at $2,053,000 after buying an additional 1,153 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Boot Barn during the 3rd quarter valued at about $408,000. GHP Investment Advisors Inc. acquired a new position in Boot Barn in the 3rd quarter valued at about $25,000. Trust Point Inc. increased its stake in Boot Barn by 0.8% during the third quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after purchasing an additional 71 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Boot Barn during the third quarter worth about $335,000.

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.