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

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

Boot Barn Stock Down 1.5%

NYSE BOOT opened at $157.26 on Tuesday. The stock has a market capitalization of $4.81 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.17 and a beta of 1.59. The firm has a 50-day moving average price of $113.81 and a 200 day moving average price of $131.29. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $176.64.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The business had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. Boot Barn’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. On average, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn declared that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BOOT has been the subject of several analyst reports. Stephens began coverage on Boot Barn in a research report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 price objective for the company. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Wednesday, April 23rd. Bank of America boosted their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Robert W. Baird increased their target price on shares of Boot Barn from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, Piper Sandler upped their price objective on shares of Boot Barn from $162.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and an average target price of $170.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOOT. Stephens Investment Management Group LLC purchased a new stake in shares of Boot Barn during the 4th quarter worth approximately $46,699,000. Alberta Investment Management Corp purchased a new stake in Boot Barn during the fourth quarter worth $2,842,000. Charles Schwab Investment Management Inc. increased its position in shares of Boot Barn by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock valued at $54,439,000 after buying an additional 5,881 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Boot Barn during the 4th quarter worth $42,440,000. Finally, TimesSquare Capital Management LLC grew its stake in Boot Barn by 134.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company’s stock valued at $43,973,000 after acquiring an additional 166,121 shares during the last quarter.

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.