Prepare Yourself for Liftoff: Boot Barn Holdings Inc. (BOOT)

Boot Barn Holdings Inc. (NYSE: BOOT) stock jumped 1.26% on Tuesday to $66.83 against a previous-day closing price of $66.00. With 1.02 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.74 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $68.37 whereas the lowest price it dropped to was $65.09. The 52-week range on BOOT shows that it touched its highest point at $88.80 and its lowest point at $50.20 during that stretch. It currently has a 1-year price target of $82.92. Beta for the stock currently stands at 2.34.

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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 -7.04%, but this was down by -10.26% over a month. Three-month performance dropped to -12.24% while six-month performance rose 9.18%. The stock lost -10.08% in the past year, while it has gained 6.89% so far this year. A look at the trailing 12-month EPS for BOOT yields 5.62 with Next year EPS estimates of 5.75. For the next quarter, that number is 0.86. This implies an EPS growth rate of -11.30% for this year and 16.70% for next year. EPS is expected to grow by 4.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 47.90%.

Float and Shares Shorts:

At present, 29.85 million BOOT shares are outstanding with a float of 29.57 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.21 million, which was 10.77% higher than short shares on Mar 30, 2023. In addition to Mr. James G. Conroy as the firm’s Pres, CEO & Director, Mr. James M. Watkins serves as its CFO & Sec.

Institutional Ownership:

Through their ownership of 111.47% of BOOT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.14% of BOOT, in contrast to 53.86% held by mutual funds. Shares owned by individuals account for 24.89%. As the largest shareholder in BOOT with 14.43% of the stake, BlackRock Fund Advisors holds 4,302,980 shares worth 4,302,980. A second-largest stockholder of BOOT, The Vanguard Group, Inc., holds 2,628,414 shares, controlling over 8.82% of the firm’s shares. Wasatch Advisors, Inc. is the third largest shareholder in BOOT, holding 1,539,408 shares or 5.16% stake. With a 7.26% stake in BOOT, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,165,631 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.07% of BOOT stock, is the second-largest Mutual Fund holder. It holds 915,785 shares valued at 66.37 million. Wasatch Small Cap Growth Fund holds 2.29% of the stake in BOOT, owning 681,267 shares worth 49.37 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, BOOT reported revenue of $365.86M and operating income of $52.42M. The EBITDA in the recently reported quarter was $60.19M and diluted EPS was $1.29.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BOOT since 0 analysts follow the stock currently. 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 $70.00, the average target price over the next 12 months is $83.08. Based on these targets, BOOT could surge 49.63% to reach the target high and rise by 4.74% to reach the target low. Reaching the average price target will result in a growth of 24.32% 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.

Summary of Insider Activity:

Insiders traded BOOT stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 1,349 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 68,612 while 69,835 shares were sold.

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