Boot Barn (NYSE:BOOT) Sets New 52-Week High - What's Next?

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) shares reached a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup cut their price target on Boot Barn from $194.00 to $178.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Craig Hallum lowered Boot Barn from a "buy" rating to a "hold" rating and increased their target price for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Piper Sandler restated an "overweight" rating and set a $179.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on Boot Barn from $181.00 to $188.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Finally, Bank of America lifted their price objective on shares of Boot Barn from $187.00 to $192.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $173.00.

Boot Barn Stock Up 0.4 %

The company's fifty day moving average price is $149.86 and its two-hundred day moving average price is $145.13. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.48 and a beta of 2.10.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. On average, equities research 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 news, CEO John Hazen sold 6,311 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. The trade was a 61.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Boot Barn by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company's stock worth $113,150,000 after buying an additional 6,369 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Boot Barn during the fourth quarter worth approximately $1,544,000. Algert Global LLC boosted its holdings in shares of Boot Barn by 653.9% during the third quarter. Algert Global LLC now owns 23,001 shares of the company's stock worth $3,848,000 after acquiring an additional 19,950 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Boot Barn in the third quarter valued at approximately $3,343,000. Finally, Victory Capital Management Inc. increased its stake in shares of Boot Barn by 51.1% during the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company's stock worth $2,402,000 after purchasing an additional 4,856 shares during the period.

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.