William Blair Investment Manageme. recently announced the acquisition of new stake in Boot Barn Holdings Inc. (NYSE:BOOT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 103.23% to 1.47 million shares with purchase of 0.74 million shares. This fresh investment now brings its stake to 5.09% valued currently at $31.5 million. In addition, Franklin Advisers, Inc. raised its holdings by 0.7 million to 1.34 million shares. And Jennison Associates LLC has lifted its position by 29.46% or 0.26 million shares – to 1.16 million shares.
With over 0.46 million Boot Barn Holdings Inc. (BOOT) shares trading Friday and a closing price of $20.03 on the day, the dollar volume was approximately $9.13 million. The shares have shown a negative weekly performance of -5.12% and its price on 07/10/20 gained nearly 2.93%. Currently, there are 28.78M common shares owned by the public and among those 28.65M shares have been available to trade.
Incidentally, analysts’ outlook for the Boot Barn Holdings Inc. stock is 2.30 for the next 12 months.
Insiders at the company have transacted a total of 56 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 298,130 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 236,190 shares.
The top 3 mutual fund holders in Boot Barn Holdings Inc. are iShares Core S&P Small Cap ETF, Franklin Small Cap Growth Fund, and Invesco Oppenheimer Discovery Fun. iShares Core S&P Small Cap ETF owns 1.71 million shares of the company’s stock, all valued at over $36.8 million. The company bought an additional 760.0 shares recently to bring their total holdings to about 5.95% of the shares outstanding. Invesco Oppenheimer Discovery Fun bought 40585.0 shares to bring its total holdings to over 1.13 million shares at a value of $24.22 million. Invesco Oppenheimer Discovery Fun now owns shares totaling to 3.91% of the shares outstanding.
Shares of Boot Barn Holdings Inc. (NYSE: BOOT) opened at $19.30, down -$0.16 from a prior closing price of $19.46. However, the script later closed the day at $20.03, up 2.93%. The company’s stock has a 5-day price change of -5.12% and 25.34% over the past three months. BOOT shares are trading -55.02% year to date (YTD), with the 12-month market performance down to -42.93% lower. It has a 12-month low price of $8.03 and touched a high of $48.11 over the same period. Currently, 0.46 million shares have been traded, compared to an average intraday trading volume of 1.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.19%, -7.64%, and -33.64% respectively.
Institutional ownership of Boot Barn Holdings Inc. (NYSE: BOOT) 28.78M shares outstanding. Mutual fund holders own 45.88%, while other institutional holders and individual stakeholders account for 70.44% and 25.11% respectively.
It has a market capitalization of $574.66M and a beta (3y monthly) value of 3.00. The stock’s trailing 12-month PE ratio is 12.22, while the earnings-per-share (ttm) stands at $1.64. The company has a PEG of 0.98 and a Quick Ratio of 0.30 with the debt-to-equity ratio at 0.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.82% over the week and 7.72% over the month.
Analysts forecast that Boot Barn Holdings Inc. (BOOT) will achieve an EPS of -$0.16 for the current quarter, $0.09 for the next quarter and $1.61 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.38 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.33 a year ago. Earnings per share for the fiscal year are expected to increase by 21.20%, and 69.94% over the next financial year. EPS should shrink at an annualized rate of 12.50% over the next five years, compared to 25.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Boot Barn Holdings Inc. (BOOT) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 5 of the 13 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the BOOT, a number of firms have released research notes about the stock. Pivotal Research Group stated their Hold rating for the stock in a research note on May 21, 2020, with the firm’s price target at $19-$22. Pivotal Research Group coverage for the Boot Barn Holdings Inc. (BOOT) stock in a research note released on May 15, 2020 offered a Hold rating with a price target of $19. Susquehanna was of a view on April 15, 2020 that the stock is Negative, while JP Morgan gave the stock Neutral rating on March 09, 2020, issuing a price target of $32. Pivotal Research Group on their part issued Hold rating on February 05, 2020.