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

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,440,000 shares, a decrease of 5.1% from the September 30th total of 2,570,000 shares. Based on an average daily volume of 568,900 shares, the days-to-cover ratio is presently 4.3 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Williams Trading reiterated a "buy" rating and set a $173.00 price target on shares of Boot Barn in a report on Tuesday. BTIG Research lifted their target price on shares of Boot Barn from $165.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday. UBS Group upped their price target on shares of Boot Barn from $127.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Craig Hallum lowered shares of Boot Barn from a "buy" rating to a "hold" rating and lifted their price target for the stock from $154.00 to $162.00 in a report on Friday, October 25th. Finally, Benchmark restated a "buy" rating and issued a $192.00 price objective on shares of Boot Barn in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.55.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. bought a new position in Boot Barn during the third quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company's stock valued at $34,000 after purchasing an additional 140 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn during the second quarter valued at approximately $64,000. 1620 Investment Advisors Inc. bought a new position in Boot Barn in the 2nd quarter worth $84,000. Finally, USA Financial Formulas purchased a new position in shares of Boot Barn during the third quarter valued at about $92,000.

Boot Barn Stock Down 2.1 %

BOOT stock traded down $2.65 during midday trading on Thursday, hitting $124.54. The company's stock had a trading volume of 894,794 shares, compared to its average volume of 764,785. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 25.95 and a beta of 2.12. The stock's 50-day moving average price is $154.30 and its 200 day moving average price is $132.35. Boot Barn has a 1 year low of $66.73 and a 1 year high of $169.83.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company's revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts forecast that Boot Barn will post 5.29 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.