Boot Barn Holdings, Inc. (NYSE:BOOT) Stock Position Raised by Select Equity Group L.P.

Select Equity Group L.P. lifted its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,997 shares of the company’s stock after buying an additional 730 shares during the period. Select Equity Group L.P.’s holdings in Boot Barn were worth $1,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BOOT. Signaturefd LLC grew its position in Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 111 shares during the last quarter. Blue Trust Inc. grew its position in Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after purchasing an additional 143 shares during the last quarter. Assetmark Inc. grew its position in Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company’s stock worth $55,000 after purchasing an additional 113 shares during the last quarter. R Squared Ltd bought a new position in Boot Barn in the 4th quarter worth about $102,000. Finally, Smartleaf Asset Management LLC grew its position in Boot Barn by 212.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock worth $115,000 after purchasing an additional 509 shares during the last quarter.

Wall Street Analyst Weigh In

BOOT has been the subject of several recent analyst reports. KeyCorp decreased their target price on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. Citigroup upped their target price on shares of Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com cut shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Piper Sandler upped their target price on shares of Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Boot Barn from $209.00 to $196.00 and set an “overweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.62.

Boot Barn Price Performance

BOOT stock opened at $156.99 on Friday. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64. The firm has a market cap of $4.80 billion, a PE ratio of 28.03, a P/E/G ratio of 1.17 and a beta of 1.59. The firm has a 50 day simple moving average of $107.05 and a 200 day simple moving average of $130.04.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The business had revenue of $453.75 million for the quarter, compared to analyst estimates of $458.56 million. As a group, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn announced that its board has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Boot Barn

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.