Investors Purchase High Volume of Call Options on Boot Barn (BOOT)

Boot Barn Holdings, Inc. (NYSE:BOOT) was the recipient of some unusual options trading activity on Friday. Investors acquired 1,742 call options on the company. This is an increase of 1,559% compared to the typical daily volume of 105 call options.

A number of research analysts have weighed in on BOOT shares. TheStreet raised shares of Boot Barn from a “d” rating to a “c” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. upgraded shares of Boot Barn from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $17.00 in a research note on Sunday, November 26th. Jefferies Group reiterated a “buy” rating and set a $20.00 price objective on shares of Boot Barn in a research note on Monday, December 18th. Citigroup lifted their price objective on shares of Boot Barn from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, BidaskClub upgraded shares of Boot Barn from a “hold” rating to a “buy” rating in a research note on Saturday, November 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $12.84.

A number of hedge funds have recently added to or reduced their stakes in BOOT. Trexquant Investment LP bought a new stake in Boot Barn during the second quarter valued at $106,000. Capital Fund Management S.A. acquired a new position in shares of Boot Barn during the second quarter valued at $114,000. BlueCrest Capital Management Ltd acquired a new position in shares of Boot Barn during the second quarter valued at $116,000. Cubist Systematic Strategies LLC acquired a new position in shares of Boot Barn during the third quarter valued at $151,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Boot Barn during the second quarter valued at $178,000.

Shares of Boot Barn (BOOT) opened at $17.33 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 1.32 and a debt-to-equity ratio of 1.04. The stock has a market cap of $451.02, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.76 and a beta of 1.79. Boot Barn has a 12 month low of $5.90 and a 12 month high of $17.56.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Boot Barn had a net margin of 2.32% and a return on equity of 8.70%. The business had revenue of $143.10 million during the quarter, compared to analyst estimates of $139.92 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. analysts expect that Boot Barn will post 0.61 EPS for the current year.

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Boot Barn Company Profile

Boot Barn Holdings, Inc 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.

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