Boot Barn Holdings, Inc. (NYSE:BOOT) Short Interest Update

Boot Barn Holdings, Inc. (NYSE:BOOT) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,570,000 shares, a decline of 7.6% from the September 15th total of 2,780,000 shares. Based on an average daily volume of 637,500 shares, the short-interest ratio is currently 4.0 days.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors have recently bought and sold shares of BOOT. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Boot Barn by 191.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 26,670 shares of the company’s stock valued at $2,047,000 after acquiring an additional 17,509 shares during the last quarter. Virtu Financial LLC purchased a new stake in Boot Barn during the fourth quarter worth about $298,000. Goldman Sachs Group Inc. raised its stake in shares of Boot Barn by 35.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after buying an additional 182,130 shares during the period. Wellington Management Group LLP lifted its stake 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 valued at $197,527,000 after buying an additional 1,675,410 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Boot Barn by 1.3% in 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 during the period.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BTIG Research raised their target price on Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Robert W. Baird upped their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. UBS Group boosted their price target on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Piper Sandler increased their price objective on Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Boot Barn Price Performance

Shares of NYSE BOOT traded down $0.72 during trading hours on Thursday, reaching $166.38. The stock had a trading volume of 514,284 shares, compared to its average volume of 745,849. Boot Barn has a twelve month low of $66.73 and a twelve month high of $169.83. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 34.66 and a beta of 2.12. The business’s fifty day moving average is $150.30 and its two-hundred day moving average is $128.40.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. The business had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 earnings per share. Sell-side analysts forecast that Boot Barn will post 5.29 earnings per share for the current fiscal year.

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.