Boot Barn Holdings, Inc. (NYSE:BOOT) Short Interest Down 5.9% in June

Boot Barn Holdings, Inc. (NYSE:BOOT) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 3,020,000 shares, a decrease of 5.9% from the May 31st total of 3,210,000 shares. Based on an average trading volume of 811,000 shares, the short-interest ratio is currently 3.7 days.

Insiders Place Their Bets

In other Boot Barn news, insider Michael A. Love sold 5,653 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total transaction of $642,237.33. Following the completion of the transaction, the insider now directly owns 2,327 shares in the company, valued at $264,370.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John Hazen sold 3,563 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction of $403,367.23. Following the completion of the sale, the insider now owns 1,309 shares of the company’s stock, valued at $148,191.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Love sold 5,653 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $113.61, for a total transaction of $642,237.33. Following the sale, the insider now directly owns 2,327 shares of the company’s stock, valued at approximately $264,370.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,795 shares of company stock worth $1,329,686. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Several hedge funds have recently made changes to their positions in BOOT. Wellington Management Group LLP lifted its position 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 purchasing an additional 1,675,410 shares in the last quarter. Wasatch Advisors LP lifted its position 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 in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Boot Barn during the fourth quarter worth about $32,361,000. Capital Research Global Investors acquired a new stake in Boot Barn in the first quarter valued at approximately $32,779,000. Finally, American Century Companies Inc. acquired a new stake in Boot Barn in the third quarter valued at approximately $23,028,000.

Analyst Ratings Changes

A number of research firms have recently issued reports on BOOT. Craig Hallum upped their target price on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. BTIG Research upped their price objective on shares of Boot Barn from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. TD Cowen upped their price objective on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, Piper Sandler upped their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.36.

Boot Barn Price Performance

Shares of BOOT stock opened at $127.39 on Thursday. The firm has a market cap of $3.87 billion, a PE ratio of 26.54 and a beta of 2.09. The company has a 50-day moving average of $118.34 and a two-hundred day moving average of $97.04. Boot Barn has a 1-year low of $66.73 and a 1-year high of $134.61.

Boot Barn (NYSE:BOOT) last announced its earnings results on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.12. The company had revenue of $388.46 million during the quarter, compared to analyst estimates of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. Sell-side analysts anticipate that Boot Barn will post 4.82 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.