Boot Barn Holdings, Inc. (NYSE:BOOT) Sees Large Growth in Short Interest

Boot Barn Holdings, Inc. (NYSE:BOOT) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,140,000 shares, an increase of 7.0% from the November 15th total of 2,000,000 shares. Based on an average trading volume of 739,300 shares, the days-to-cover ratio is presently 2.9 days.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds have recently modified their holdings of BOOT. Algert Global LLC increased its stake in shares of Boot Barn by 653.9% during the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after purchasing an additional 19,950 shares during the last quarter. Public Sector Pension Investment Board increased its position in Boot Barn by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock worth $8,626,000 after buying an additional 4,785 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Boot Barn during the third quarter valued at about $3,343,000. Raymond James & Associates lifted its position in shares of Boot Barn by 1.8% in the second quarter. Raymond James & Associates now owns 49,263 shares of the company’s stock worth $6,351,000 after buying an additional 875 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Boot Barn by 51.1% during the 3rd quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock worth $2,402,000 after acquiring an additional 4,856 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BOOT. BTIG Research upped their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. UBS Group upped their target price on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Trading Up 0.1 %

Shares of Boot Barn stock traded up $0.11 on Tuesday, reaching $149.00. 522,552 shares of the company were exchanged, compared to its average volume of 762,254. Boot Barn has a fifty-two week low of $68.37 and a fifty-two week high of $169.83. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 29.92 and a beta of 2.14. The stock has a fifty day moving average price of $145.01 and a 200-day moving average price of $139.98.

Boot Barn (NYSE:BOOT) last announced its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.93 by $0.02. The company 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 business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. On average, equities analysts anticipate that Boot Barn will post 5.48 earnings per share for the current fiscal year.

About Boot Barn

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.