JP Morgan took its Boot Barn Holdings [BOOT] rating to the equivalent of Overweight from Neutral, and the price target to $60 from $46, in a research note dated 2021-01-11. That figure represents around a 23.48% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Craig Hallum’s analysts downgrading the shares from “a Buy” rating to “a Hold” rating in a research note to investors issued in late October. Meanwhile, Pivotal Research Group had maintained its rating on BOOT to the earlier “Hold” rating, in a research note produced for clients October 21, 2020. In addition, there was an upgrade from Susquehanna on October 12, 2020. The rater changed BOOT from “a Negative” to “a Neutral”.
Is Boot Barn Holdings Inc. [NYSE:BOOT] a Good Buy Right Now?
It should be noted that BOOT technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Boot Barn Holdings Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.5 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.53 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.6 million shares.
BOOT Price Performance
On Wall Street, Boot Barn Holdings Inc. [NYSE:BOOT] finished Friday’s session up 2.12% at $48.59. The stock went up to $48.66 at the same session while its lowest single day price was $47.23. In the last five days, it saw a rise of about 12.06%, Boot Barn Holdings Inc. shares gained by almost 12.06% since the beginning of the year. However, the share price has dropped to as low as -0.65% below its one year high. On 01/07/21, the company shares recorded $48.91, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $41.44. The company’s shares have inclined by 3.08% in the past year. The 50-day SMA achieved is $40.57 while the 200-day SMA is $27.39. Volume gained to 0.53 million from 0.44 million in the previous session.
Boot Barn Holdings Inc. [BOOT] Valuation Measures
Notably, Boot Barn Holdings Inc. [BOOT] stock cannot be classified as a good candidate in the listing of underestimated low-priced Apparel Retail companies to purchase soonest possible with the prevailing 12-month PE ratio of 39.80. The measure means the stock is exchanging at a premium as compared to the 22.14x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.71 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.75 which means BOOT serve an unattractive investment opportunity compared to its competitors.
BOOT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 47.66 level, and in case of violation of this particular level, it will cause more drop to 46.73 level. On the upper level, 49.59 is still the key resistance. The stock may increase to the subsequent resistance at 49.09. The Relative Strength Index (RSI) pinned on the 14-day chart is 70.14, implying a overbought technical stance while the MACD stands at 4.76, meaning price will increase in the next trading period. Percent R indicator moved to 3.52%, implying bullish price movement. Stochastic %K at 93.78% suggest selling the stock.
What is the short interest in Boot Barn Holdings Inc.?
Short interest in the Boot Barn Holdings Inc. stock has surged, increasing by 0.35 million shares to total 3.24 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.59 million, data from Yahoo Finance shows. The decrease of -10.8% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 13.27% of the overall float for the stock.
Boot Barn Holdings Inc.’s Biggest Shareholders: Who Owns Boot Barn Holdings Inc. [BOOT]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 3,914,735 shares or roughly 13.56% of the outstanding BOOT shares. This means their shares have reduced by -113,700 from the 3,914,735 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Wasatch Advisors, Inc. updated stake is worth $123,024,694. Details in the latest 13F filings reveal that Franklin Mutual Advisers LLC acquired their 76.32% stake valued at $79,378,299 while William Blair Investment Manageme added theirs at $74,879,845. During the last quarter, Franklin Mutual Advisers LLC raised 832,709 of its shares in Boot Barn Holdings Inc. while William Blair Investment Manageme bought 49,343 shares. The The Vanguard Group, Inc.’s holdings currently number 1,736,353 shares at $84369392.27. According to the firm’s last 13F report, Franklin Advisers, Inc. shares in the company at filing stood at 1,570,445 shares, roughly $64,796,561.
BOOT Earnings Forecast For The Current Quarter
Boot Barn Holdings Inc. [BOOT] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $299.48M and an earnings per share of $0.87 for Dec 2020. Looking further ahead, the company is expected to report revenue of $208.91M at an EPS of $0.29 for Mar 2021. The estimates represent 13.20% and 44.42% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
BOOT Earnings Estimates For The Current Year
For the financial year, Boot Barn Holdings Inc. [NYSE:BOOT] is expected to bring in revenue of $840.61M. The returns are nearly $-4.97 million lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 1.34, lower than that of FY20 by -$0.33. Estimates put this year’s earnings growth at -19.80%, 42.50% for the next, and at an annual 10.20% over the next 5-year period. As for sales, forecasts are for a decrease of -0.60% in the current fiscal year and a further 13.20% over the following year.