Boot Barn Holdings, Inc. (NYSE:BOOT) Insider Sells $645,282.36 in Stock

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider now directly owns 2,112 shares in the company, valued at $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Boot Barn Stock Up 0.7%

Shares of BOOT traded up $1.09 during trading hours on Friday, reaching $160.32. The stock had a trading volume of 690,185 shares, compared to its average volume of 831,613. The company has a market cap of $4.90 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64. The firm has a 50-day moving average of $118.01 and a 200 day moving average of $132.06.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period in the prior year, the business posted $0.96 earnings per share. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its board has initiated a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Boot Barn

Several hedge funds and other institutional investors have recently bought and sold shares of BOOT. Signaturefd LLC boosted its stake in Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 111 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company's stock worth $26,000 after purchasing an additional 143 shares during the period. Opal Wealth Advisors LLC purchased a new position in Boot Barn during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC increased its stake in Boot Barn by 263.6% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after purchasing an additional 203 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Boot Barn by 210.8% during the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after purchasing an additional 215 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on BOOT shares. Wall Street Zen downgraded Boot Barn from a "hold" rating to a "sell" rating in a research note on Monday, February 17th. Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 target price for the company in a research note on Wednesday, April 23rd. Stephens initiated coverage on Boot Barn in a report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price target for the company. Robert W. Baird increased their target price on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, Piper Sandler raised their price target on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $171.46.

Boot Barn Company Profile

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.