Boot Barn (NYSE:BOOT) Holdings, Inc. (NYSE:BOOT) Interim CEO John Hazen recently executed a series of stock transactions, according to an SEC filing. On January 2, Hazen sold shares of the company's common stock, generating a total of $965,481. The shares were sold at prices ranging from $151.47 to $154.65 per share. The stock, currently trading at $158.50 with a market capitalization of $4.8 billion, has delivered an impressive 109% return over the past year. According to InvestingPro analysis, the stock appears overvalued at current levels.
In addition to the sales, Hazen exercised options to acquire 6,311 shares of Boot Barn common stock, with the exercise prices ranging from $20.94 to $24.08. Following these transactions, Hazen holds 3,937 shares directly. InvestingPro data reveals that Boot Barn's stock price movements are quite volatile, with 13 additional exclusive insights available to subscribers.
These sales were conducted under a pre-established Rule 10b5-1 trading plan, which Hazen adopted in August 2024. The filing provides a detailed breakdown of the sales prices and quantities, which are available upon request from Boot Barn Holdings, Inc. or the SEC. For a comprehensive analysis of Boot Barn's valuation and future prospects, access the detailed Pro Research Report available exclusively on InvestingPro.
In other recent news, Boot Barn Holdings Inc. has been in the spotlight due to several developments. The company reported a 14% increase in revenue for the second quarter of fiscal year 2025, with earnings per diluted share surpassing expectations. Amid this financial growth, Boot Barn's CEO Jim Conroy announced his resignation, with Chief Digital Officer John Hazen stepping in as Interim CEO.
Analysts at BTIG, TD Cowen, and Baird have expressed confidence in the company's growth potential. BTIG and TD Cowen reaffirmed their Buy ratings on Boot Barn, with a price target of $185, citing the company's robust retail fundamentals and potential for future growth. Baird, on the other hand, upgraded Boot Barn's stock from Neutral to Outperform, setting a new price target of $167, expressing confidence in Boot Barn's potential for delivering attractive relative earnings growth.
However, Craig-Hallum adjusted its price target on Boot Barn to $160 from $162, maintaining a Hold rating. The firm pointed to the company's strong second fiscal quarter results and an increase in the fiscal year 2025 guidance, while also noting the CEO transition. Despite the leadership change, Boot Barn's fundamentals remain solid, with consistent unit growth and the anticipation that third fiscal quarter same-store sales will also rise to mid-single digit levels.
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