Boot Barn Holdings, Inc. (NYSE:BOOT) Short Interest Down 6.7% in September

Boot Barn Holdings, Inc. (NYSE:BOOT) saw a significant decline in short interest in 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 days-to-cover ratio is presently 4.2 days.

Boot Barn Price Performance

Shares of BOOT traded up $1.55 during trading hours on Tuesday, reaching $168.83. 375,331 shares of the company’s stock traded hands, compared to its average volume of 761,541. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 34.78 and a beta of 2.11. Boot Barn has a twelve month low of $66.73 and a twelve month high of $169.07. The business’s fifty day simple moving average is $140.82 and its two-hundred day simple moving average is $122.33.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The business had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. During the same quarter last year, the business posted $1.11 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts expect that Boot Barn will post 5.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Boot Barn by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock worth $210,638,000 after purchasing an additional 35,925 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Boot Barn by 186.6% during the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after purchasing an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after purchasing an additional 649,021 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Boot Barn by 35.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock worth $53,733,000 after purchasing an additional 182,130 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in Boot Barn by 17.1% in the 1st quarter. Congress Asset Management Co. MA now owns 558,235 shares of the company’s stock valued at $53,116,000 after buying an additional 81,503 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BOOT. BTIG Research upped their price objective on shares of Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup increased their target price on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Piper Sandler increased their target price on shares of Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird increased their target price on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, UBS Group increased their target price on shares of Boot Barn from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and a consensus target price of $143.80.

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.