Boot Barn Holdings Inc (NYSE:BOOT) Short Interest Update

Boot Barn Holdings Inc (NYSE:BOOT) was the recipient of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 2,800,000 shares, a decline of 18.8% from the November 14th total of 3,450,000 shares. Based on an average daily volume of 700,100 shares, the days-to-cover ratio is presently 4.0 days. Currently, 9.9% of the company’s shares are sold short.

NYSE BOOT traded down $0.08 during trading hours on Friday, hitting $43.01. The company had a trading volume of 440,355 shares, compared to its average volume of 556,701. Boot Barn has a fifty-two week low of $15.01 and a fifty-two week high of $44.05. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 34.69, a P/E/G ratio of 1.39 and a beta of 2.29. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.14 and a quick ratio of 0.12. The firm’s 50 day moving average is $39.96 and its 200 day moving average is $34.86.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. Boot Barn had a return on equity of 16.61% and a net margin of 5.51%. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $184.13 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Boot Barn will post 1.76 EPS for the current year.

A number of analysts have recently commented on the company. Craig Hallum initiated coverage on Boot Barn in a report on Friday, October 4th. They set a “buy” rating and a $46.00 price objective for the company. Stephens assumed coverage on Boot Barn in a research report on Tuesday, October 8th. They set an “overweight” rating and a $46.00 price target for the company. Pivotal Research upped their price target on Boot Barn from $35.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. ValuEngine upgraded Boot Barn from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Piper Jaffray Companies set a $46.00 price objective on Boot Barn and gave the stock a “buy” rating in a report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Boot Barn currently has an average rating of “Buy” and an average price target of $38.58.

In other Boot Barn news, insider Laurie Marie Grijalva sold 19,625 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $39.91, for a total transaction of $783,233.75. Following the transaction, the insider now owns 21,747 shares of the company’s stock, valued at $867,922.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory V. Hackman sold 48,405 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.52, for a total transaction of $2,058,180.60. Following the transaction, the chief financial officer now directly owns 37,132 shares in the company, valued at approximately $1,578,852.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,111 shares of company stock valued at $6,084,607. 1.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of BOOT. BlackRock Inc. increased its stake in Boot Barn by 114.1% during the 2nd quarter. BlackRock Inc. now owns 4,132,782 shares of the company’s stock worth $147,293,000 after buying an additional 2,202,171 shares during the period. Invesco Ltd. lifted its stake in shares of Boot Barn by 130.9% in the second quarter. Invesco Ltd. now owns 1,914,562 shares of the company’s stock worth $68,234,000 after acquiring an additional 1,085,550 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Boot Barn by 21.2% in the second quarter. Vanguard Group Inc. now owns 2,587,530 shares of the company’s stock valued at $92,220,000 after purchasing an additional 452,793 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Boot Barn by 1,460.8% in 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 during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Boot Barn during the 3rd quarter valued at approximately $10,743,000.

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.

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