Boot Barn (NYSE:BOOT) Sets New 12-Month High Following Analyst Upgrade

Boot Barn Holdings, Inc. (NYSE:BOOT) shares reached a new 52-week high during mid-day trading on Monday after BTIG Research raised their price target on the stock from $100.00 to $127.00. BTIG Research currently has a buy rating on the stock. Boot Barn traded as high as $110.32 and last traded at $109.15, with a volume of 18468 shares trading hands. The stock had previously closed at $107.79.

A number of other research firms have also recently commented on BOOT. StockNews.com cut Boot Barn from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. B. Riley dropped their price target on shares of Boot Barn from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Williams Trading restated a “hold” rating on shares of Boot Barn in a research report on Tuesday, January 16th. KeyCorp assumed coverage on shares of Boot Barn in a report on Wednesday, February 7th. They set a “sector weight” rating on the stock. Finally, UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $108.00 in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.11.

Insider Activity at Boot Barn

In other news, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $85.03, for a total transaction of $85,030.00. Following the sale, the director now owns 1,542 shares of the company’s stock, valued at approximately $131,116.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Gene Eddie Burt sold 1,000 shares of Boot Barn stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total value of $85,030.00. Following the completion of the transaction, the director now directly owns 1,542 shares in the company, valued at $131,116.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 5,861 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $90.31, for a total transaction of $529,306.91. Following the completion of the sale, the insider now owns 5,861 shares in the company, valued at $529,306.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,339 shares of company stock valued at $2,413,715. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently made changes to their positions in BOOT. Headlands Technologies LLC raised its stake in shares of Boot Barn by 1,037.7% during the fourth quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after purchasing an additional 716 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Boot Barn in the 4th quarter worth $102,000. Quest Partners LLC purchased a new stake in shares of Boot Barn in the fourth quarter valued at about $112,000. Neo Ivy Capital Management acquired a new position in shares of Boot Barn during the fourth quarter worth about $165,000. Finally, Allworth Financial LP raised its holdings in Boot Barn by 61,325.0% during the third quarter. Allworth Financial LP now owns 2,457 shares of the company’s stock worth $199,000 after purchasing an additional 2,453 shares in the last quarter.

Boot Barn Price Performance

The stock’s 50-day moving average is $93.87 and its 200 day moving average is $82.01. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 20.07 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.01. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. The firm had revenue of $520.40 million for the quarter, compared to analyst estimates of $520.34 million. Analysts anticipate that Boot Barn Holdings, Inc. will post 4.73 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.