Short Interest in Boot Barn Holdings, Inc. (NYSE:BOOT) Declines By 5.1%

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 2,440,000 shares, a decrease of 5.1% from the September 30th total of 2,570,000 shares. Based on an average daily trading volume, of 568,900 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOOT. GHP Investment Advisors Inc. purchased a new position in shares of Boot Barn during the 3rd quarter worth $25,000. GAMMA Investing LLC boosted its stake in shares of Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn during the 2nd quarter worth $64,000. 1620 Investment Advisors Inc. purchased a new position in shares of Boot Barn during the 2nd quarter worth $84,000. Finally, USA Financial Formulas purchased a new position in shares of Boot Barn during the 3rd quarter worth $92,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on BOOT shares. Piper Sandler reaffirmed an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research note on Tuesday. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and increased their target price for the stock from $154.00 to $162.00 in a report on Friday, October 25th. UBS Group lifted their price objective on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Williams Trading reissued a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Stock Up 0.7 %

BOOT opened at $125.47 on Friday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 25.19 and a beta of 2.12. The firm has a 50 day moving average price of $153.67 and a 200-day moving average price of $132.48. Boot Barn has a twelve month low of $67.53 and a twelve month high of $169.83.

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