Boot Barn (NYSE:BOOT) Shares Gap Up to $136.67

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $136.67, but opened at $140.84. Boot Barn shares last traded at $139.40, with a volume of 33,459 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BOOT. TD Cowen increased their price objective on Boot Barn from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, June 5th. JPMorgan Chase & Co. boosted their price objective on Boot Barn from $125.00 to $146.00 and gave the stock an "overweight" rating in a report on Monday, July 22nd. Piper Sandler upped their price objective on shares of Boot Barn from $144.00 to $147.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. UBS Group lifted their target price on shares of Boot Barn from $125.00 to $127.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Finally, Craig Hallum increased their price target on shares of Boot Barn from $120.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.20.

Boot Barn Trading Up 2.2 %

The company has a market cap of $4.24 billion, a P/E ratio of 29.09 and a beta of 2.09. The company's fifty day moving average is $128.23 and its 200 day moving average is $109.87.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.18. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. The firm had revenue of $423.40 million for the quarter, compared to analysts' expectations of $415.04 million. During the same period last year, the firm earned $1.11 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Boot Barn Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider Michael A. Love sold 1,079 shares of the company's stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total transaction of $118,916.59. Following the completion of the sale, the insider now directly owns 2,112 shares in the company, valued at approximately $232,763.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Brenda I. Morris sold 1,500 shares of Boot Barn stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the sale, the director now directly owns 4,546 shares in the company, valued at approximately $500,560.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael A. Love sold 1,079 shares of the company's stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total value of $118,916.59. Following the transaction, the insider now owns 2,112 shares of the company's stock, valued at approximately $232,763.52. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

Institutional Trading of Boot Barn

Large investors have recently added to or reduced their stakes in the stock. Broad Bay Capital Management LP boosted its stake in shares of Boot Barn by 25.0% during the 4th quarter. Broad Bay Capital Management LP now owns 400,000 shares of the company's stock valued at $30,704,000 after purchasing an additional 80,000 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Boot Barn during the 4th quarter valued at approximately $1,167,000. Eagle Asset Management Inc. grew its holdings in shares of Boot Barn by 17.6% during the 4th quarter. Eagle Asset Management Inc. now owns 337,335 shares of the company's stock worth $25,894,000 after acquiring an additional 50,577 shares during the period. Prevail Innovative Wealth Advisors LLC raised its position in shares of Boot Barn by 60.0% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 28,522 shares of the company's stock worth $2,189,000 after acquiring an additional 10,699 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of Boot Barn in the 1st quarter valued at approximately $695,000.

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.