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

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,780,000 shares, a decline of 6.7% from the August 31st total of 2,980,000 shares. Based on an average daily volume of 663,700 shares, the short-interest ratio is currently 4.2 days.

Analysts Set New Price Targets

Several research analysts recently weighed in on BOOT shares. Benchmark reaffirmed a “buy” rating and issued a $140.00 target price on shares of Boot Barn in a report on Wednesday, September 11th. TD Cowen upped their target price on shares of Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Robert W. Baird boosted their price target on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research note on Tuesday. Craig Hallum boosted their price target on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, BTIG Research boosted their price target on shares of Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and an average target price of $143.80.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE raised its stake in shares of Boot Barn by 39.9% in the 4th quarter. US Bancorp DE now owns 12,232 shares of the company’s stock valued at $939,000 after acquiring an additional 3,487 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of Boot Barn by 17.6% in the 4th quarter. Eagle Asset Management Inc. now owns 337,335 shares of the company’s stock valued at $25,894,000 after buying an additional 50,577 shares in the last quarter. Prevail Innovative Wealth Advisors LLC boosted its holdings in shares of Boot Barn by 60.0% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 28,522 shares of the company’s stock valued at $2,189,000 after buying an additional 10,699 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Boot Barn by 25.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 375,613 shares of the company’s stock valued at $28,832,000 after purchasing an additional 75,432 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Boot Barn in the 4th quarter valued at $526,000.

Boot Barn Stock Performance

NYSE:BOOT traded up $1.71 during midday trading on Tuesday, reaching $168.99. 353,218 shares of the stock traded hands, compared to its average volume of 761,424. The business has a 50-day moving average of $140.82 and a two-hundred day moving average of $122.33. The stock has a market capitalization of $5.14 billion, a PE ratio of 34.78 and a beta of 2.11. Boot Barn has a 12-month low of $66.73 and a 12-month high of $169.05.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.18. The firm had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 earnings per share. Research analysts anticipate that Boot Barn will post 5.31 earnings per share 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.