Quantbot Technologies LP Invests $238,000 in Boot Barn Holdings, Inc. $BOOT

Key Points

• Quantbot Technologies LP acquired a new stake in Boot Barn Holdings, purchasing 2,220 shares valued at approximately $238,000 during the first quarter.
• Analysts are optimistic about Boot Barn, with multiple firms increasing their price targets, including JPMorgan Chase & Co. raising it from $207 to $247 and UBS Group from $156 to $210.
• Boot Barn reported an earnings per share of $1.74 for the last quarter, exceeding expectations, and has set a stock repurchase plan to buy back $200 million of outstanding shares.

Quantbot Technologies LP acquired a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,220 shares of the company's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its holdings in Boot Barn by 29.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 14,731 shares of the company's stock valued at $1,583,000 after buying an additional 3,341 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Boot Barn during the first quarter valued at approximately $916,000. KBC Group NV grew its holdings in shares of Boot Barn by 21.8% during the first quarter. KBC Group NV now owns 1,489 shares of the company's stock valued at $160,000 after purchasing an additional 267 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Boot Barn by 8,368.8% during the first quarter. GAMMA Investing LLC now owns 42,005 shares of the company's stock valued at $4,513,000 after purchasing an additional 41,509 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its position in shares of Boot Barn by 206.5% during the first quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock worth $78,856,000 after buying an additional 494,523 shares during the period.

Analysts Set New Price Targets

BOOT has been the subject of several analyst reports. KeyCorp boosted their price objective on Boot Barn from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Citigroup boosted their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $187.00 to $175.00 in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and an average target price of $182.54.

Boot Barn Stock Up 0.9%

BOOT traded up $1.56 during trading on Monday, reaching $178.03. The stock had a trading volume of 478,531 shares, compared to its average volume of 532,776. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $183.60. The stock has a 50 day moving average of $167.70 and a two-hundred day moving average of $139.74.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.19. The company had revenue of $504.07 million for the quarter, compared to analysts' expectations of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.The firm's revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. Boot Barn has set its Q2 2026 guidance at 1.190-1.270 EPS. FY 2026 guidance at 5.800-6.700 EPS. On average, research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its board has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.