Royal Bank of Canada Increases Stake in Boot Barn Holdings, Inc. $BOOT

Royal Bank of Canada raised its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 22.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,894 shares of the company’s stock after purchasing an additional 8,404 shares during the quarter. Royal Bank of Canada’s holdings in Boot Barn were worth $6,717,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of Boot Barn in the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Boot Barn during the third quarter valued at approximately $49,000. Danske Bank A S increased its position in shares of Boot Barn by 200.0% during the fourth quarter. Danske Bank A S now owns 300 shares of the company’s stock valued at $53,000 after acquiring an additional 200 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Boot Barn by 284.1% during the fourth quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock valued at $60,000 after acquiring an additional 250 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Boot Barn in the 3rd quarter worth approximately $60,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BOOT. Citigroup reaffirmed a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. Weiss Ratings raised Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Piper Sandler decreased their price target on Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Stephens upped their price target on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank of America dropped their price objective on Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $219.55.

Boot Barn Stock Down 1.5%

BOOT opened at $166.09 on Wednesday. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.08 and a beta of 1.71. The firm has a 50 day moving average price of $162.32 and a 200-day moving average price of $166.39. Boot Barn Holdings, Inc. has a twelve month low of $133.18 and a twelve month high of $210.25.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. 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. As a group, analysts expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

Boot Barn 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.