Boot Barn Target of Unusually High Options Trading (BOOT)

Boot Barn Holdings Inc (NYSE:BOOT) was the target of some unusual options trading on Wednesday. Stock traders bought 1,593 put options on the company. This is an increase of approximately 2,053% compared to the average volume of 74 put options.

Shares of NYSE BOOT traded up $0.58 on Friday, reaching $29.93. 480,700 shares of the company’s stock traded hands, compared to its average volume of 733,166. Boot Barn has a 12 month low of $7.37 and a 12 month high of $30.26. The company has a market capitalization of $803.48 million, a price-to-earnings ratio of 41.90, a P/E/G ratio of 1.16 and a beta of 1.70. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.20 and a current ratio of 1.59.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ 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 4.98% and a return on equity of 11.04%. analysts forecast that Boot Barn will post 1.08 earnings per share for the current fiscal year.

BOOT has been the subject of a number of analyst reports. Pivotal Research set a $24.00 target price on shares of Boot Barn and gave the stock a “hold” rating in a report on Wednesday, August 8th. Wells Fargo & Co set a $25.00 target price on shares of Boot Barn and gave the stock a “hold” rating in a report on Wednesday, May 16th. Zacks Investment Research upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, July 17th. Jefferies Financial Group raised their price objective on shares of Boot Barn to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 16th. Finally, Piper Jaffray Companies raised their price objective on shares of Boot Barn to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 16th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Boot Barn has a consensus rating of “Buy” and a consensus price target of $24.00.

In other Boot Barn news, CEO James Grant Conroy sold 98,870 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $27.67, for a total transaction of $2,735,732.90. Following the completion of the sale, the chief executive officer now directly owns 64,515 shares in the company, valued at $1,785,130.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Greg Bettinelli sold 4,726 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $26.18, for a total transaction of $123,726.68. Following the sale, the director now owns 12,995 shares of the company’s stock, valued at $340,209.10. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its position in shares of Boot Barn by 16.4% during the first quarter. Frontier Capital Management Co. LLC now owns 2,655,965 shares of the company’s stock valued at $47,090,000 after acquiring an additional 373,837 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Boot Barn by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,896,647 shares of the company’s stock worth $39,356,000 after purchasing an additional 163,729 shares during the period. BlackRock Inc. grew its position in Boot Barn by 23.2% in the 2nd quarter. BlackRock Inc. now owns 1,468,787 shares of the company’s stock worth $30,476,000 after purchasing an additional 276,982 shares during the period. Renaissance Technologies LLC grew its position in Boot Barn by 34.1% in the 2nd quarter. Renaissance Technologies LLC now owns 859,800 shares of the company’s stock worth $17,841,000 after purchasing an additional 218,700 shares during the period. Finally, FMR LLC bought a new stake in Boot Barn in the 2nd quarter worth approximately $15,745,000.

Boot Barn Company Profile

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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