Boot Barn Holdings Inc (NYSE:BOOT)’s share price rose 5.1% during trading on Tuesday . The company traded as high as $32.28 and last traded at $31.26, approximately 606,143 shares traded hands during mid-day trading. A decline of 33% from the average daily volume of 907,779 shares. The stock had previously closed at $29.73.
BOOT has been the topic of a number of analyst reports. DA Davidson initiated coverage on Boot Barn in a research note on Wednesday, June 19th. They issued a “buy” rating and a $41.00 price target on the stock. Robert W. Baird cut Boot Barn from an “outperform” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Monday, July 8th. Susquehanna Bancshares initiated coverage on Boot Barn in a research note on Friday, July 12th. They issued a “neutral” rating and a $35.00 price target on the stock. Piper Jaffray Companies lifted their price target on Boot Barn from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup cut Boot Barn from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $33.00 in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.10.
The company has a debt-to-equity ratio of 0.93, a current ratio of 1.14 and a quick ratio of 0.16. The firm has a market capitalization of $878.50 million, a PE ratio of 25.21, a PEG ratio of 1.09 and a beta of 2.37. The company’s 50 day moving average is $33.23.
In other news, CEO James Grant Conroy sold 81,224 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $33.00, for a total transaction of $2,680,392.00. Following the transaction, the chief executive officer now directly owns 25,868 shares of the company’s stock, valued at $853,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOOT. BlackRock Inc. boosted its position in shares of Boot Barn by 114.1% during the second quarter. BlackRock Inc. now owns 4,132,782 shares of the company’s stock valued at $147,293,000 after purchasing an additional 2,202,171 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Boot Barn during the first quarter valued at approximately $14,318,000. Renaissance Technologies LLC boosted its position in shares of Boot Barn by 1,460.8% during the second quarter. Renaissance Technologies LLC now owns 454,200 shares of the company’s stock valued at $16,188,000 after purchasing an additional 425,100 shares in the last quarter. Norges Bank bought a new stake in shares of Boot Barn during the fourth quarter valued at approximately $5,044,000. Finally, Columbus Circle Investors boosted its position in shares of Boot Barn by 109.1% during the first quarter. Columbus Circle Investors now owns 476,834 shares of the company’s stock valued at $14,038,000 after purchasing an additional 248,764 shares in the last quarter.
About Boot Barn (NYSE:BOOT)
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.
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