Boot Barn Holdings, Inc. (NYSE:BOOT) Short Interest Down 7.6% in September

Boot Barn Holdings, Inc. (NYSE:BOOT) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 2,570,000 shares, a decrease of 7.6% from the September 15th total of 2,780,000 shares. Based on an average daily trading volume, of 637,500 shares, the short-interest ratio is currently 4.0 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on BOOT shares. BTIG Research upped their price objective on shares of Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Robert W. Baird upped their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Piper Sandler upped their price objective on shares of Boot Barn from $147.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Citigroup upped their price objective on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Hedge Funds Weigh In On Boot Barn

Several hedge funds have recently modified their holdings of BOOT. GAMMA Investing LLC grew its holdings in shares of Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after acquiring an additional 140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Boot Barn in the 2nd quarter valued at about $64,000. 1620 Investment Advisors Inc. acquired a new stake in Boot Barn in the 2nd quarter valued at about $84,000. USA Financial Formulas acquired a new stake in Boot Barn in the 3rd quarter valued at about $92,000. Finally, First Horizon Advisors Inc. lifted its stake in Boot Barn by 11.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock valued at $120,000 after purchasing an additional 94 shares during the last quarter.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $166.38 on Friday. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 34.66 and a beta of 2.12. The business has a 50-day moving average of $151.00 and a 200-day moving average of $128.66. Boot Barn has a fifty-two week low of $66.73 and a fifty-two week high of $169.83.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.18. The company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. Boot Barn’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 EPS. On average, sell-side analysts expect that Boot Barn will post 5.29 EPS for the current 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.