Insider Buying: Boot Barn (NYSE:BOOT) CFO Purchases $270,740.00 in Stock

Boot Barn Holdings, Inc. (NYSE:BOOT) CFO James Watkins bought 2,000 shares of the stock in a transaction dated Thursday, November 12th. The stock was purchased at an average price of $135.37 per share, with a total value of $270,740.00. Following the acquisition, the chief financial officer directly owned 27,831 shares in the company, valued at approximately $3,767,482.47. The trade was a 7.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Boot Barn Trading Up 3.2%

Shares of BOOT stock traded up $4.22 during trading hours on Friday, reaching $137.89. 765,249 shares of the stock were exchanged, compared to its average volume of 968,167. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.02 and a beta of 1.72. Boot Barn Holdings, Inc. has a 12-month low of $110.53 and a 12-month high of $210.25. The company’s 50-day moving average price is $127.35 and its 200-day moving average price is $155.72.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The company had revenue of $581.81 million for the quarter, compared to analyst estimates of $580.80 million. Boot Barn had a net margin of 10.45% and a return on equity of 18.82%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. On average, sell-side analysts expect that Boot Barn Holdings, Inc. will post 8.93 EPS for the current year.

Hedge Funds Weigh In On Boot Barn

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Boot Barn during the 2nd quarter worth about $840,629,000. Congress Asset Management Co. raised its holdings in shares of Boot Barn by 0.9% in the 3rd quarter. Congress Asset Management Co. now owns 804,659 shares of the company’s stock valued at $96,937,000 after purchasing an additional 7,040 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Boot Barn by 12.2% in the 2nd quarter. Wellington Management Group LLP now owns 773,749 shares of the company’s stock valued at $127,104,000 after purchasing an additional 84,250 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Boot Barn by 114.6% in the 1st quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock valued at $95,921,000 after purchasing an additional 349,985 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Boot Barn by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 645,342 shares of the company’s stock worth $94,440,000 after purchasing an additional 9,816 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BOOT shares. Stephens increased their price target 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 upgraded Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. BTIG Research reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Boot Barn in a research report on Monday, November 9th. TD Cowen reduced their target price on Boot Barn from $160.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Finally, Craig Hallum reiterated a “buy” rating and set a $225.00 target price on shares of Boot Barn in a research report on Thursday, October 29th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Boot Barn presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.92.

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.