Boot Barn (NYSE:BOOT) Shares Gap Up on Insider Buying Activity

Boot Barn Holdings, Inc. (NYSE:BOOT) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $133.67, but opened at $138.15. Boot Barn shares last traded at $139.48, with a volume of 84,935 shares traded.

Specifically, CFO James Watkins acquired 2,000 shares of the stock in a transaction dated Thursday, November 12th. The stock was bought at an average price of $135.37 per share, with a total value of $270,740.00. Following the completion of the transaction, the chief financial officer directly owned 27,831 shares of the company’s stock, valued at approximately $3,767,482.47. The trade was a 7.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BOOT shares. Citigroup lowered their target price on Boot Barn from $205.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Stephens boosted their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Weiss Ratings raised shares of Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Needham & Company LLC began coverage on Boot Barn in a research report on Friday, October 16th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $195.00 price objective on shares of Boot Barn in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.92.

Boot Barn Stock Performance

The company has a market cap of $4.17 billion, a PE ratio of 16.88, a PEG ratio of 1.04 and a beta of 1.72. The stock has a fifty day moving average of $127.53 and a 200-day moving average of $155.92.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, October 28th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.10. The company had revenue of $581.81 million during the quarter, compared to the consensus estimate of $580.80 million. Boot Barn had a net margin of 10.45% and a return on equity of 18.82%. Boot Barn’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.37 earnings per share. As a group, equities analysts anticipate that Boot Barn Holdings, Inc. will post 8.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

A number of large investors have recently modified their holdings of the business. First Trust Advisors LP lifted its holdings in shares of Boot Barn by 14.1% during the third quarter. First Trust Advisors LP now owns 39,514 shares of the company’s stock worth $4,760,000 after purchasing an additional 4,883 shares during the period. Whittier Trust Co. raised its holdings in shares of Boot Barn by 0.9% in the 3rd quarter. Whittier Trust Co. now owns 93,429 shares of the company’s stock worth $11,208,000 after purchasing an additional 842 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Boot Barn during the 3rd quarter valued at $36,000. GW&K Investment Management LLC raised its holdings in shares of Boot Barn by 3.5% during the 3rd quarter. GW&K Investment Management LLC now owns 177,463 shares of the company’s stock valued at $21,379,000 after buying an additional 5,984 shares during the period. Finally, Stephens Investment Management Group LLC grew its stake in Boot Barn by 27.8% during the 3rd quarter. Stephens Investment Management Group LLC now owns 619,772 shares of the company’s stock valued at $74,664,000 after purchasing an additional 134,669 shares in the last quarter.

Boot Barn Company Profile

Boot Barn Holdings, Inc. is a U.S. retailer specializing in Western and work-related footwear, apparel and accessories. It serves customers through retail stores and online sales. Its merchandise includes cowboy boots and other footwear, jeans, shirts, hats, outerwear, work clothing and safety footwear. Boot Barn sells products from third-party brands as well as private-label brands. The company serves customers across the United States and caters to Western lifestyle, workwear and outdoor customers.