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

Key Points

• CFO James Watkins bought 2,000 Boot Barn shares for $270,740, increasing his stake by 7.74% to 27,831 shares.
• Boot Barn’s latest quarter beat estimates, reporting EPS of $1.73 versus $1.63 expected and revenue of $581.81 million; revenue rose 15.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $183.92. Shares traded at $133.84 in Thursday’s session.

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) CFO James Watkins purchased 2,000 shares of the stock in a transaction on Thursday, November 12th. The shares were purchased at an average cost of $135.37 per share, with a total value of $270,740.00. Following the transaction, the chief financial officer owned 27,831 shares in the company, valued at $3,767,482.47. This trade represents a 7.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Boot Barn Price Performance

Boot Barn stock traded down $1.66 during trading hours on Thursday, hitting $133.84. 568,599 shares of the stock traded hands, compared to its average volume of 727,296. The firm's 50 day moving average price is $127.84 and its 200-day moving average price is $156.16. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.03 and a beta of 1.72. Boot Barn Holdings, Inc. has a 1 year low of $110.53 and a 1 year high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.10. The firm had revenue of $581.81 million during 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 for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. Research analysts forecast that Boot Barn Holdings, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stephens raised their target price on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. BTIG Research reaffirmed a "buy" rating and set a $195.00 price target on shares of Boot Barn in a research report on Monday. Craig Hallum reiterated a "buy" rating and set a $225.00 price objective on shares of Boot Barn in a research note on Thursday, October 29th. Piper Sandler reissued an "overweight" rating and issued a $187.00 price objective (down from $226.00) on shares of Boot Barn in a report on Thursday, October 29th. Finally, TD Cowen lowered 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. Twelve 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $183.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Boot Barn by 361.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company's stock worth $7,091,000 after buying an additional 37,951 shares during the period. Bank of America Corp DE purchased a new position in shares of Boot Barn during the 2nd quarter valued at approximately $43,720,000. Fifth Third Bancorp grew its stake in Boot Barn by 15,768.5% in the 1st quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock valued at $5,017,000 after acquiring an additional 34,060 shares during the period. Wedge Capital Management L L P NC grew its stake in Boot Barn by 7.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 212,327 shares of the company's stock valued at $34,879,000 after acquiring an additional 15,074 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Boot Barn by 335.5% in the 1st quarter. Hsbc Holdings PLC now owns 14,527 shares of the company's stock worth $2,132,000 after acquiring an additional 11,191 shares in 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.

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