Boot Barn Holdings Inc. [NYSE:BOOT] prices rallied 6.53% on Wednesday.
With a current price of $32.61, BOOT is active in the Apparel Retail industry and it looks to be on-track for a five-day run of 15.88%.
In addition, BOOT’s high over the last year is $48.11 and the low is $8.03. Over the last two 52 weeks, the company is trading -0.52%, while the S&P 500 is trading 1.71%.
The Price is right
Holding a Market Cap of $893.84 million, Boot Barn Holdings Inc. has seen a trading range over the last year of $8.03-$48.11.
For the last five days, BOOT is up from its last closing price. The average shares trading hands each day is 815.97K.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for BOOT. When we apply the Elder Force Index to Boot Barn Holdings Inc., we are seeing an Elder Force Indicator number of 2167440.0.
The recent performance of the stock is another area that can tell traders how to proceed. BOOT is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 19.80.
In the last quarter, BOOT made a profit of 40.2 million. Boot Barn Holdings Inc. also saw quarter revenue growth year over year of 8.85%.
Looking at popular technical indicators, the company’s 5-day moving average is 30.83 compared to the 50-day moving average of 22.39%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. BOOT currently holds a 9-day RSI of 74.79%, while 100-day RSI stands at 53.96%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. BOOT’s 9-day MACD is 1.92 and the company’s 100-day MACD stands at 7.02.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 0.32% by insiders and 111.46% by institutions. Regarding institutional holdings, Blackrock Inc. owns 14.99%, while the second top holder, Franklin Resources, Inc., currently owns 8.74%.
Over the last six months, insiders have sold 19,625 with the most recent transaction from Grijalva Laurie Marie, Chief Merchandise Officer, with a sell at price 39.91 per share.
Overall, the recommended rating for BOOT is Moderate Buy. Currently, the company has 12 analysts watching the stock, and the average quarterly earnings estimate is 0.11. Quarterly revenue estimates are averaging 179.75M with the high estimate reaching 188.1M and the low at 174.6M.
To review, the current 1-year target estimate is sitting at 25.18, while the current price 32.61. Based on this, we expect some pullback on the stock over time given our above analysis.