Boot Barn Sees Unusually Large Options Volume (BOOT)

Boot Barn Holdings Inc (NYSE:BOOT) was the recipient of some unusual options trading activity on Monday. Traders purchased 1,272 put options on the company. This is an increase of approximately 1,211% compared to the average daily volume of 97 put options.

In other Boot Barn news, CEO James Grant Conroy sold 98,870 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $27.67, for a total value of $2,735,732.90. Following the completion of the sale, the chief executive officer now owns 64,515 shares of the company’s stock, valued at approximately $1,785,130.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Starrett sold 74,725 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $29.44, for a total transaction of $2,199,904.00. Following the completion of the sale, the director now directly owns 68,412 shares of the company’s stock, valued at approximately $2,014,049.28. The disclosure for this sale can be found here. Insiders sold a total of 238,193 shares of company stock valued at $6,841,756 in the last three months. Insiders own 2.00% of the company’s stock.

A number of large investors have recently modified their holdings of BOOT. Wells Fargo & Company MN lifted its stake in Boot Barn by 16.9% in the 1st quarter. Wells Fargo & Company MN now owns 26,826 shares of the company’s stock valued at $475,000 after purchasing an additional 3,885 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Boot Barn by 96.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 91,802 shares of the company’s stock valued at $1,628,000 after purchasing an additional 45,123 shares during the last quarter. Northern Trust Corp lifted its stake in Boot Barn by 26.4% in the 1st quarter. Northern Trust Corp now owns 388,637 shares of the company’s stock valued at $6,891,000 after purchasing an additional 81,177 shares during the last quarter. BlackRock Inc. lifted its stake in Boot Barn by 47.8% in the 1st quarter. BlackRock Inc. now owns 1,191,805 shares of the company’s stock valued at $21,130,000 after purchasing an additional 385,514 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Boot Barn by 65.1% in the 1st quarter. New York State Common Retirement Fund now owns 21,300 shares of the company’s stock valued at $378,000 after purchasing an additional 8,400 shares during the last quarter.

Shares of Boot Barn stock opened at $24.22 on Wednesday. Boot Barn has a 1-year low of $7.97 and a 1-year high of $31.61. The company has a quick ratio of 0.20, a current ratio of 1.59 and a debt-to-equity ratio of 0.80. The company has a market cap of $708.01 million, a PE ratio of 34.60, a PEG ratio of 0.86 and a beta of 1.84.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $161.98 million during the quarter, compared to the consensus estimate of $159.57 million. Boot Barn had a net margin of 5.28% and a return on equity of 11.70%. On average, research analysts forecast that Boot Barn will post 1.16 earnings per share for the current year.

BOOT has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Boot Barn from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, September 21st. TheStreet raised shares of Boot Barn from a “c+” rating to a “b” rating in a report on Tuesday, August 28th. Zacks Investment Research raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Friday, October 12th. William Blair initiated coverage on shares of Boot Barn in a report on Tuesday, October 9th. They set an “outperform” rating for the company. Finally, ValuEngine downgraded shares of Boot Barn from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 6th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $27.56.

About Boot Barn

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.

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