Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. boosted its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 210,875 shares of the company’s stock after buying an additional 8,912 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Boot Barn were worth $32,015,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC purchased a new stake in Boot Barn during the fourth quarter valued at about $46,699,000. Alberta Investment Management Corp purchased a new stake in shares of Boot Barn in the fourth quarter worth about $2,842,000. Charles Schwab Investment Management Inc. boosted its position in shares of Boot Barn by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock worth $54,439,000 after buying an additional 5,881 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Boot Barn in the fourth quarter worth about $42,440,000. Finally, TimesSquare Capital Management LLC boosted its position in shares of Boot Barn by 134.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company’s stock worth $43,973,000 after buying an additional 166,121 shares during the period.

Boot Barn Stock Up 2.6%

NYSE:BOOT opened at $160.79 on Tuesday. The business’s 50 day moving average is $108.22 and its two-hundred day moving average is $130.33. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64. The company has a market cap of $4.92 billion, a PE ratio of 28.71, a P/E/G ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The firm had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period in the prior year, the business earned $0.96 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group upped their target price on Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Piper Sandler upped their target price on Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. KeyCorp decreased their target price on Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Finally, Bank of America increased their price target on Boot Barn from $160.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boot Barn presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.62.

Boot Barn 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.