Price Action to Note: What’s Ahead for Boot Barn Holdings Inc After Reaching 52-Week High?

Price Action to Note: What's Ahead for Boot Barn Holdings Inc After Reaching 52 Week High?

The stock of Boot Barn Holdings Inc (NYSE:BOOT) hit a new 52-week high and has $18.21 target or 7.00% above today’s $17.02 share price. The 6 months bullish chart indicates low risk for the $468.86 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $18.21 price target is reached, the company will be worth $32.82 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 106,670 shares traded hands. Boot Barn Holdings Inc (NYSE:BOOT) has risen 94.53% since April 21, 2016 and is uptrending. It has outperformed by 89.20% the S&P500.

Analysts await Boot Barn Holdings Inc (NYSE:BOOT) to report earnings on February, 7. They expect $0.42 earnings per share, down 6.67% or $0.03 from last year’s $0.45 per share. BOOT’s profit will be $11.57M for 10.13 P/E if the $0.42 EPS becomes a reality. After $0.02 actual earnings per share reported by Boot Barn Holdings Inc for the previous quarter, Wall Street now forecasts 2,000.00% EPS growth.

Boot Barn Holdings Inc (NYSE:BOOT) Ratings Coverage

Out of 8 analysts covering Boot Barn Holdings (NYSE:BOOT), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. Boot Barn Holdings has been the topic of 19 analyst reports since September 30, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained the shares of BOOT in a report on Wednesday, September 30 with “Overweight” rating. The company was initiated on Wednesday, October 7 by Citigroup. Citigroup maintained the shares of BOOT in a report on Friday, May 20 with “Neutral” rating. JP Morgan downgraded the stock to “Neutral” rating in Friday, April 8 report. The company was downgraded on Monday, October 26 by B. Riley & Co. As per Wednesday, February 3, the company rating was upgraded by B. Riley & Co. As per Tuesday, January 12, the company rating was maintained by B. Riley & Co. Citigroup maintained Boot Barn Holdings Inc (NYSE:BOOT) on Monday, March 21 with “Neutral” rating. The stock has “Buy” rating given by Jefferies on Wednesday, July 27. Citigroup maintained it with “Neutral” rating and $9 target price in Wednesday, July 20 report.

According to Zacks Investment Research, “Boot Barn Holdings, Inc. operates as a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories. The company’s products include boots, denim, western shirts, cowboy hats, belts and belt buckles, and western-style jewellery and accessories; and rugged footwear, outerwear, overalls, denims, and shirts, as well as safety-toe boots, and flame-resistant and high-visibility clothing. It sells its products through bootbarn.com, an e-commerce Website. Boot Barn Holdings, Inc. is headquartered in Irvine, California.”

Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.25, from 1.02 in 2016Q1. The ratio is positive, as 21 funds sold all Boot Barn Holdings Inc shares owned while 20 reduced positions. 18 funds bought stakes while 24 increased positions. They now own 27.96 million shares or 0.03% less from 27.97 million shares in 2016Q1.
Moreover, Blackrock Advisors Limited Company has 0% invested in Boot Barn Holdings Inc (NYSE:BOOT) for 108,164 shares. Arrowpoint Asset Management Ltd holds 546,530 shares or 0.1% of its portfolio. Manufacturers Life Insurance The owns 869 shares or 0% of their US portfolio. Cannell Ltd Liability Company accumulated 0.54% or 154,712 shares. Globeflex Limited Partnership last reported 0.32% of its portfolio in the stock. California Employees Retirement Sys holds 0% or 13,100 shares in its portfolio. Teachers Advsrs, a New York-based fund reported 23,312 shares. Fs Cap Vi Ltd Liability Company, a California-based fund reported 13.44 million shares. Moreover, Citigroup has 0% invested in Boot Barn Holdings Inc (NYSE:BOOT) for 64,097 shares. Tiaa Cref Mgmt Ltd, a New York-based fund reported 43,401 shares. Fifth Third National Bank holds 200 shares or 0% of its portfolio. Blackrock Fund Advsrs reported 344,614 shares or 0% of all its holdings. Schwab Charles Inv Management has 36,784 shares for 0% of their US portfolio. Moreover, Rhumbline Advisers has 0% invested in Boot Barn Holdings Inc (NYSE:BOOT) for 13,302 shares. Grp One Trading Lp holds 0% or 900 shares in its portfolio.

More important recent Boot Barn Holdings Inc (NYSE:BOOT) news were published by: Fool.com which released: “Why Boot Barn Holdings Inc. Stock Plunged Today” on January 12, 2016, also Ocbj.com published article titled: “Boot Barn Meets Street Targets”, Businesswire.com published: “Boot Barn Holdings, Inc. Posts Transcript of First Quarter Earnings Call …” on July 26, 2016. More interesting news about Boot Barn Holdings Inc (NYSE:BOOT) was released by: Businesswire.com and their article: “Boot Barn Holdings, Inc. to Report Second Quarter Fiscal Year 2017 Results on …” with publication date: July 26, 2016.

BOOT Company Profile

Boot Barn Holdings, Inc., incorporated on November 17, 2011, is a lifestyle retailer of western and work-related footwear, apparel and accessories for men, women and children. The Company’s stores are located in or near neighborhood shopping centers with trade areas of approximately five or more miles, and it has opened stores in malls and outlet center locations. The Company’s stores average an area of approximately 11,490 square feet and feature an assortment of brands and styles. The Company’s boot selection, which consists of approximately one-third of each store’s selling square footage space, is merchandised on self-service fixtures with western boots arranged by size and work boots arranged by brand. It also carries assortments of denim, western shirts, cowboy hats, belts and belt buckles, western-style jewelry and accessories.

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