Boot Barn (NYSE:BOOT) Sets New 1-Year High on Strong Earnings

Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $176.64 and last traded at $173.94, with a volume of 755667 shares changing hands. The stock had previously closed at $173.97.

The company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%.

Analysts Set New Price Targets

Several brokerages have recently commented on BOOT. JPMorgan Chase & Co. boosted their price objective on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America increased their price target on shares of Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a report on Wednesday, October 30th. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Thursday, January 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $174.77.

Insider Transactions at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares in the company, valued at $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Boot Barn by 1.0% during the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after acquiring an additional 6,369 shares in the last quarter. Dale Q Rice Investment Management Ltd bought a new position in Boot Barn in the 4th quarter worth $1,544,000. Algert Global LLC raised its holdings in Boot Barn by 653.9% in the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after purchasing an additional 19,950 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Boot Barn in the 3rd quarter worth about $3,343,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Boot Barn by 51.1% during the 3rd quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock valued at $2,402,000 after purchasing an additional 4,856 shares in the last quarter.

Boot Barn Stock Down 7.9 %

The firm’s 50-day moving average is $153.42 and its 200-day moving average is $146.51. The company has a market cap of $4.90 billion, a PE ratio of 32.27, a PEG ratio of 1.57 and a beta of 2.10.

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.