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

Boot Barn Holdings, Inc. (NYSE:BOOT) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 2,140,000 shares, a growth of 7.0% from the November 15th total of 2,000,000 shares. Based on an average daily volume of 739,300 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BOOT. State Street Corp raised its position in shares of Boot Barn by 4.4% in the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after purchasing an additional 51,356 shares during the period. Geode Capital Management LLC grew its stake in Boot Barn by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after buying an additional 6,369 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Boot Barn by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock worth $82,895,000 after acquiring an additional 1,834 shares during the period. Franklin Resources Inc. lifted its position in Boot Barn by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock worth $68,004,000 after acquiring an additional 4,226 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Boot Barn by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock valued at $58,999,000 after acquiring an additional 6,335 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Williams Trading reissued a “buy” rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Stock Performance

Shares of Boot Barn stock traded up $0.11 during trading on Tuesday, hitting $149.00. 522,552 shares of the stock traded hands, compared to its average volume of 762,254. The company has a fifty day moving average price of $145.01 and a two-hundred day moving average price of $139.98. Boot Barn has a twelve month low of $68.37 and a twelve month high of $169.83. The stock has a market cap of $4.55 billion, a P/E ratio of 29.92 and a beta of 2.14.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, equities research analysts expect that Boot Barn will post 5.48 EPS for the current fiscal 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.