Boot Barn Holdings, Inc. (NYSE:BOOT) Short Interest Down 7.6% in September

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,570,000 shares, a drop 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.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently modified their holdings of BOOT. Wellington Management Group LLP grew its stake in shares of Boot Barn by 186.6% during the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after buying an additional 1,675,410 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Boot Barn by 43.8% during the first 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 during the period. Capital Research Global Investors acquired a new position in shares of Boot Barn during the first quarter worth $32,779,000. Janus Henderson Group PLC lifted its holdings in shares of Boot Barn by 1,212.4% during the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock worth $27,134,000 after purchasing an additional 263,444 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Boot Barn by 35.2% during the fourth 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 during the period.

Boot Barn Trading Down 0.4 %

Shares of BOOT opened at $166.38 on Friday. Boot Barn has a 12 month low of $66.73 and a 12 month high of $169.83. The firm’s 50 day moving average is $151.00 and its 200-day moving average is $128.66. The stock has a market capitalization of $5.06 billion, a PE ratio of 34.66 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 8.89% and a return on equity of 16.44%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.11 earnings per share. Equities research analysts predict that Boot Barn will post 5.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BOOT has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. BTIG Research raised their price objective on shares of Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Benchmark raised their price objective on shares of Boot Barn from $140.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

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.