Short Interest in Boot Barn Holdings, Inc. (NYSE:BOOT) Grows By 7.0%

Boot Barn Holdings, Inc. (NYSE:BOOT) was the recipient of a significant 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 trading volume, of 739,300 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of Boot Barn in the second quarter valued at about $19,532,000. F M Investments LLC purchased a new position in shares of Boot Barn during the second quarter worth $14,888,000. State Street Corp lifted its position in Boot Barn by 4.4% during 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. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Boot Barn in the third quarter valued at $5,931,000. Finally, Sei Investments Co. grew its position in Boot Barn by 39.3% during the 2nd quarter. Sei Investments Co. now owns 102,933 shares of the company’s stock worth $13,271,000 after purchasing an additional 29,049 shares during the period.

Boot Barn Stock Up 0.1 %

Shares of Boot Barn stock traded up $0.11 during trading on Tuesday, reaching $149.00. The company’s stock had a trading volume of 522,552 shares, compared to its average volume of 762,254. The company has a 50-day simple moving average of $145.01 and a two-hundred day simple moving average of $139.98. Boot Barn has a 1-year low of $68.37 and a 1-year high of $169.83. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 29.92 and a beta of 2.14.

Boot Barn (NYSE:BOOT) last released its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $424.42 million. During the same period last year, the business earned $0.91 EPS. Boot Barn’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Boot Barn will post 5.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

BOOT has been the topic of a number of research reports. Williams Trading reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. UBS Group lifted their price objective on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research report on Wednesday, October 30th. Craig Hallum lowered Boot Barn from a “buy” rating to a “hold” rating and lifted their price target for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.55.

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.