51,900 Shares in Boot Barn Holdings, Inc. $BOOT Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies bought 51,900 Boot Barn shares worth approximately $7.6 million, giving it a 0.17% stake. Several other institutional investors also recently initiated or increased positions.
• Analysts remain broadly positive, with 11 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $222.27.
• Boot Barn exceeded quarterly expectations, reporting $2.29 in EPS versus $1.69 expected and $593.5 million in revenue. Revenue increased 17.7% year over year, while shares opened at $158.90 after a reported 6.7% gain.

Renaissance Technologies LLC purchased a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,900 shares of the company's stock, valued at approximately $7,596,000. Renaissance Technologies LLC owned approximately 0.17% of Boot Barn at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Boot Barn in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Boot Barn during the third quarter worth about $49,000. Danske Bank A S grew its stake in Boot Barn by 200.0% in the fourth quarter. Danske Bank A S now owns 300 shares of the company's stock worth $53,000 after purchasing an additional 200 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Boot Barn by 284.1% in the fourth quarter. Hantz Financial Services Inc. now owns 338 shares of the company's stock valued at $60,000 after buying an additional 250 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Boot Barn in the third quarter valued at about $60,000.

Wall Street Analyst Weigh In

BOOT has been the topic of a number of research analyst reports. Jefferies Financial Group raised Boot Barn from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a report on Monday, April 6th. Robert W. Baird set a $212.00 price target on Boot Barn in a report on Thursday. Piper Sandler dropped their price target on Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. Weiss Ratings upgraded Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Finally, TD Cowen decreased their price objective on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $222.27.

Boot Barn Stock Up 6.7%

Shares of NYSE BOOT opened at $158.90 on Tuesday. The firm's 50-day moving average price is $162.85 and its two-hundred day moving average price is $167.57. Boot Barn Holdings, Inc. has a 52-week low of $133.18 and a 52-week high of $210.25. The stock has a market capitalization of $4.81 billion, a P/E ratio of 20.11, a P/E/G ratio of 0.96 and a beta of 1.71.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.60. The company had revenue of $593.51 million during the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.Boot Barn's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 earnings per share. 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, equities research analysts expect that Boot Barn Holdings, Inc. will post 9.16 earnings per share for the current year.

About Boot Barn

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.

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