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

Boot Barn Holdings, Inc. (NYSE:BOOT) saw a significant growth in short interest during the month of 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 daily trading volume, of 800,700 shares, the short-interest ratio is presently 3.9 days.

Insider Activity at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated 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 owns 3,937 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boot Barn

Several institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in Boot Barn by 3.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock valued at $382,000 after buying an additional 82 shares in the last quarter. Bank of Montreal Can grew its holdings in Boot Barn by 1.4% during the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after buying an additional 82 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Boot Barn by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock valued at $701,000 after buying an additional 83 shares in the last quarter. Cetera Investment Advisers grew its holdings in Boot Barn by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock valued at $1,242,000 after buying an additional 83 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Boot Barn by 7.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock worth $208,000 after purchasing an additional 97 shares during the period.

Boot Barn Trading Down 6.3 %

Shares of BOOT opened at $114.71 on Tuesday. The business’s 50 day moving average is $148.26 and its 200 day moving average is $147.77. The company has a market capitalization of $3.51 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.17 and a beta of 2.10. Boot Barn has a 12-month low of $82.67 and a 12-month high of $176.64.

Boot Barn (NYSE:BOOT) last issued its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. Equities research analysts predict that Boot Barn will post 5.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BOOT. JPMorgan Chase & Co. increased their target price on Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Bank of America increased their target price on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. UBS Group decreased their price objective on Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.83.

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.