Ranger Investment Management L.P. Buys New Position in Boot Barn Holdings, Inc. $BOOT

Ranger Investment Management L.P. bought a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 90,241 shares of the company’s stock, valued at approximately $14,824,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Boot Barn during the second quarter valued at about $840,629,000. Price T Rowe Associates Inc. MD raised its stake in Boot Barn by 83.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock worth $194,725,000 after buying an additional 502,275 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Boot Barn by 2,547.7% in the third quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock worth $78,086,000 after buying an additional 453,396 shares during the period. Bank of America Corp DE lifted its holdings in Boot Barn by 114.6% in the first quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock worth $95,921,000 after buying an additional 349,985 shares during the period. Finally, Invesco Ltd. boosted its position in Boot Barn by 46.3% during the 3rd quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock valued at $152,033,000 after acquiring an additional 290,493 shares in the last quarter.

Boot Barn Price Performance

Shares of Boot Barn stock opened at $164.44 on Monday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.07 and a beta of 1.71. The firm’s 50-day moving average is $161.33 and its 200 day moving average is $165.42. Boot Barn Holdings, Inc. has a 1 year low of $133.18 and a 1 year high of $210.25.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. During the same period last year, the business earned $1.74 EPS. Boot Barn’s revenue was up 17.7% compared to the same quarter last year. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. On average, equities analysts expect that Boot Barn Holdings, Inc. will post 9.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on BOOT. Stephens upped their target price on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. UBS Group set a $225.00 target price on Boot Barn in a research note on Wednesday, June 17th. Weiss Ratings lowered Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Bank of America reduced their price target on Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, BTIG Research lowered their price objective on Boot Barn from $235.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Boot Barn has an average rating of “Buy” and an average target price of $219.55.

Boot Barn Company Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.