Boot Barn (NYSE:BOOT) Reaches New 52-Week High – Here’s Why

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) reached 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 traded. The stock had previously closed at $168.50.

Analysts Set New Price Targets

A number of research analysts have recently commented on BOOT shares. JPMorgan Chase & Co. raised their target price on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Bank of America lifted their target price on shares of Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. UBS Group upgraded shares of Boot Barn from a “neutral” rating to a “buy” rating and upped their price target for the stock from $155.00 to $210.00 in a research note 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $173.00.

Boot Barn Stock Up 0.4 %

The firm has a 50 day moving average price of $149.86 and a 200 day moving average price of $145.13. The stock has a market cap of $5.16 billion, a P/E ratio of 33.96, a P/E/G ratio of 1.48 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results 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 business had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Equities analysts predict that Boot Barn Holdings, Inc. will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boot Barn news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction on Thursday, January 2nd. The shares were 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 in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BOOT. Jennison Associates LLC boosted its stake in Boot Barn by 92.3% during the fourth quarter. Jennison Associates LLC now owns 340,550 shares of the company’s stock valued at $51,702,000 after buying an additional 163,451 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of Boot Barn by 6.2% in the fourth quarter. OLD National Bancorp IN now owns 2,230 shares of the company’s stock valued at $339,000 after purchasing an additional 130 shares in the last quarter. R Squared Ltd bought a new stake in Boot Barn in the fourth quarter worth $102,000. Moody Aldrich Partners LLC raised its stake in Boot Barn by 129.5% during the fourth quarter. Moody Aldrich Partners LLC now owns 49,411 shares of the company’s stock valued at $7,502,000 after purchasing an additional 27,880 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Boot Barn during the fourth quarter valued at $355,000.

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.