Boot Barn (NYSE:BOOT) Hits New 52-Week High on Strong Earnings

Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $176.64 and last traded at $173.94, with a volume of 755667 shares. The stock had previously closed at $173.97.

The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group upgraded 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. KeyCorp upgraded Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Thursday, January 23rd. Bank of America raised their price target on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. BTIG Research raised their target price on Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Benchmark reissued a “buy” rating and set a $192.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boot Barn currently has an average rating of “Buy” and a consensus price target of $174.77.

Insider Buying and Selling at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Boot Barn

A number of large investors have recently bought and sold shares of the business. Trust Point Inc. raised its stake in Boot Barn by 0.8% in the third quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after buying an additional 71 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Boot Barn by 3.7% in the third quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock worth $382,000 after purchasing an additional 82 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Boot Barn by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock valued at $701,000 after acquiring an additional 83 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Boot Barn by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock worth $2,247,000 after purchasing an additional 100 shares during the period. Finally, OLD National Bancorp IN grew its holdings in Boot Barn by 6.2% during the fourth quarter. OLD National Bancorp IN now owns 2,230 shares of the company’s stock worth $339,000 after acquiring an additional 130 shares during the period.

Boot Barn Price Performance

The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 1.57 and a beta of 2.10. The firm has a fifty day moving average of $153.42 and a 200 day moving average of $146.51.

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.