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

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price 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 business’s stock in a transaction on Thursday, November 12th. The shares were bought at an average price of $135.37 per share, with a total value of $270,740.00. Following the transaction, the chief financial officer directly owned 27,831 shares of the company’s stock, valued at $3,767,482.47. The trade was a 7.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BOOT shares. BTIG Research reaffirmed a “buy” rating and issued a $195.00 target price on shares of Boot Barn in a research report on Monday. Weiss Ratings raised Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Needham & Company LLC assumed coverage on shares of Boot Barn in a research report on Friday, October 16th. They set a “buy” rating and a $150.00 price objective for the company. Robert W. Baird cut their price target on shares of Boot Barn from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Finally, TD Cowen lowered their target price on shares of Boot Barn from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $183.92.

Boot Barn Stock Up 4.3%

The company has a market cap of $4.17 billion, a PE ratio of 16.88, a P/E/G ratio of 1.04 and a beta of 1.72. The stock has a 50-day moving average of $127.53 and a 200-day moving average of $155.92.

Boot Barn (NYSE:BOOT) last released its quarterly 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 firm had revenue of $581.81 million for the quarter, compared to analysts’ expectations of $580.80 million. Boot Barn had a return on equity of 18.82% and a net margin of 10.45%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. Research analysts expect that Boot Barn Holdings, Inc. will post 8.93 EPS for the current year.

Institutional Trading of Boot Barn

Several institutional investors and hedge funds have recently bought and sold shares of BOOT. Knights of Columbus Asset Advisors LLC lifted its position in Boot Barn by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 16,031 shares of the company’s stock worth $1,931,000 after buying an additional 75 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Boot Barn by 53.5% during the third quarter. Richardson Financial Services Inc. now owns 284 shares of the company’s stock valued at $34,000 after buying an additional 99 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Boot Barn by 85.8% in the third quarter. CoreCap Advisors LLC now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Boot Barn by 24.5% during the 3rd quarter. Parallel Advisors LLC now owns 636 shares of the company’s stock worth $77,000 after buying an additional 125 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Boot Barn by 8.7% in the third quarter. GAMMA Investing LLC now owns 1,578 shares of the company’s stock worth $190,000 after acquiring an additional 126 shares during the last quarter.

About Boot Barn

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.