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

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of a large growth in short interest in 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 volume of 800,700 shares, the days-to-cover ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BOOT shares. Bank of America increased their target price on shares of Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Robert W. Baird reduced 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. UBS Group reduced 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. Finally, Craig Hallum set a $178.00 price objective on shares of Boot Barn in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boot Barn presently has a consensus rating of “Moderate Buy” and an average target price of $181.92.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOOT. FMR LLC boosted its holdings in Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after purchasing an additional 709,903 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock worth $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in Boot Barn during the fourth quarter worth about $46,699,000. Proficio Capital Partners LLC purchased a new position in Boot Barn during the fourth quarter worth about $45,177,000. Finally, Capital Research Global Investors boosted its holdings in Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after purchasing an additional 280,892 shares during the last quarter.

Boot Barn Stock Up 1.7 %

Shares of Boot Barn stock opened at $113.75 on Thursday. The business has a 50 day moving average price of $147.53 and a 200-day moving average price of $147.59. Boot Barn has a 52 week low of $82.67 and a 52 week high of $176.64. The company has a market cap of $3.48 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.17 and a beta of 2.07.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share 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%. As a group, research analysts anticipate that Boot Barn will post 5.82 EPS for the current year.

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.