Boot Barn Holdings Inc. (NYSE: BOOT) stock fell -4.36% on Tuesday to $73.40 against a previous-day closing price of $76.75. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.75 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $76.92 whereas the lowest price it dropped to was $73.36. The 52-week range on BOOT shows that it touched its highest point at $105.66 and its lowest point at $50.20 during that stretch. It currently has a 1-year price target of $89.82. Beta for the stock currently stands at 2.28.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BOOT was down-trending over the past week, with a drop of -0.80%, but this was up by 24.43% over a month. Three-month performance surged to 29.91% while six-month performance rose 4.10%. The stock lost -21.02% in the past year, while it has gained 17.40% so far this year. A look at the trailing 12-month EPS for BOOT yields 6.09 with Next year EPS estimates of 5.97. For the next quarter, that number is 1.75. This implies an EPS growth rate of 214.30% for this year and 4.50% for next year. EPS is expected to grow by 17.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 64.40%.
Float and Shares Shorts:
At present, 29.81 million BOOT shares are outstanding with a float of 29.64 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.03 million, which was 10.17% higher than short shares on Sep 14, 2022. In addition to Mr. James G. Conroy as the firm’s Pres, CEO & Director, Mr. James M. Watkins serves as its CFO & Sec.
Through their ownership of 106.29% of BOOT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.52% of BOOT, in contrast to 52.46% held by mutual funds. Shares owned by individuals account for 24.70%. As the largest shareholder in BOOT with 14.41% of the stake, BlackRock Fund Advisors holds 4,296,431 shares worth 4,296,431. A second-largest stockholder of BOOT, The Vanguard Group, Inc., holds 2,630,132 shares, controlling over 8.82% of the firm’s shares. Wasatch Advisors, Inc. is the third largest shareholder in BOOT, holding 1,756,078 shares or 5.89% stake. With a 7.39% stake in BOOT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,201,600 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.02% of BOOT stock, is the second-largest Mutual Fund holder. It holds 900,679 shares valued at 56.31 million. Wasatch Small Cap Growth Fund holds 2.35% of the stake in BOOT, owning 701,504 shares worth 43.86 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BOOT since 13 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BOOT analysts setting a high price target of $100.00 and a low target of $75.00, the average target price over the next 12 months is $90.17. Based on these targets, BOOT could surge 36.24% to reach the target high and rise by 2.18% to reach the target low. Reaching the average price target will result in a growth of 22.85% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BOOT will report FY 2023 earnings on 05/17/2023. Analysts have provided yearly estimates in a range of $5.85 being high and $5.25 being low. For BOOT, this leads to a yearly average estimate of $5.72. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Boot Barn Holdings Inc. surprised analysts by $0.13 when it reported $1.06 EPS against a consensus estimate of $0.93. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is $1.82 and the low estimate is $1.74. The average estimate for the next quarter is thus $1.76.
Summary of Insider Activity:
Insiders traded BOOT stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 2,500 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 33 over the past year. The total number of shares bought during that period was 153,766 while 69,688 shares were sold.