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Boot Barn (NYSE:BOOT) Hits New 52-Week High - Should You Buy?

Boot Barn logo with Retail/Wholesale background

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) shares hit a new 52-week high on Thursday . 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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BTIG Research upped their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a "buy" rating in a report on Monday, January 13th. Baird R W raised shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Robert W. Baird raised shares of Boot Barn from a "neutral" rating to an "outperform" rating and set a $167.00 price target on the stock in a report on Wednesday, October 30th. Benchmark reiterated a "buy" rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Craig Hallum cut shares of Boot Barn from a "buy" rating to a "hold" rating and boosted their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $173.00.

Check Out Our Latest Report on BOOT

Boot Barn Trading Up 0.8 %

The company has a market cap of $5.33 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 1.48 and a beta of 2.10. The company's fifty day moving average is $152.18 and its 200 day moving average is $146.09.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. Analysts anticipate that Boot Barn Holdings, Inc. will post 5.8 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares of the company's stock, valued at $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BOOT. Geode Capital Management LLC lifted its stake in shares of Boot Barn by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company's stock valued at $113,150,000 after purchasing an additional 6,369 shares during the period. Dale Q Rice Investment Management Ltd purchased a new position in Boot Barn during the fourth quarter valued at $1,544,000. Algert Global LLC boosted its holdings 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 valued at $3,848,000 after buying an additional 19,950 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Boot Barn in the 3rd quarter worth about $3,343,000. Finally, Victory Capital Management Inc. increased its stake in shares of Boot Barn by 51.1% in 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.

Boot Barn Company Profile

(Get Free Report)

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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