Boot Barn (NYSE:BOOT) Hits New 12-Month High – Still a Buy?

Boot Barn Holdings, Inc. (NYSE:BOOT)’s share price hit a new 52-week high on Friday . The company traded as high as $169.85 and last traded at $169.85, with a volume of 126710 shares trading hands. The stock had previously closed at $168.50.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BOOT. Piper Sandler reiterated an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. UBS Group raised shares of Boot Barn from a “neutral” rating to a “buy” rating and boosted their price target for the company from $155.00 to $210.00 in a research report on Friday, January 10th. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup decreased their target price on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, twelve 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 “Buy” and an average target price of $173.00.

Boot Barn Trading Up 0.2 %

The company has a market capitalization of $5.15 billion, a PE ratio of 33.91, a PEG ratio of 1.48 and a beta of 2.10. The stock has a fifty day moving average of $149.18 and a two-hundred day moving average of $144.71.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. Equities analysts forecast that Boot Barn Holdings, Inc. will post 5.8 EPS for the current year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOOT. GHP Investment Advisors Inc. acquired a new position in shares of Boot Barn during the 3rd quarter worth $25,000. Blue Trust Inc. increased its position in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after purchasing an additional 143 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Boot Barn in the second quarter worth about $64,000. GAMMA Investing LLC raised its holdings in shares of Boot Barn by 100.8% during the third quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after buying an additional 268 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Boot Barn in the third quarter valued at $92,000.

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.