Alamar Capital Management LLC Invests $1.69 Million in Boot Barn Holdings, Inc. $BOOT

Key Points

• Alamar Capital Management initiated a $1.69 million position in Boot Barn, purchasing 10,306 shares during the second quarter; the stock now represents 0.9% of its portfolio.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $219.55, despite several target-price reductions.
• Boot Barn exceeded quarterly expectations, reporting $2.29 in EPS versus $1.69 expected and revenue of $593.51 million, up 17.7% year over year.

Alamar Capital Management LLC purchased a new position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,306 shares of the company's stock, valued at approximately $1,693,000. Boot Barn comprises 0.9% of Alamar Capital Management LLC's investment portfolio, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in Boot Barn by 7.2% in the 4th quarter. IFP Advisors Inc now owns 942 shares of the company's stock worth $166,000 after purchasing an additional 63 shares during the last quarter. Cynosure Group LLC increased its stake in shares of Boot Barn by 3.3% in the fourth quarter. Cynosure Group LLC now owns 2,435 shares of the company's stock valued at $430,000 after purchasing an additional 78 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Boot Barn by 20.7% during the fourth quarter. Farther Finance Advisors LLC now owns 496 shares of the company's stock valued at $88,000 after buying an additional 85 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Boot Barn by 0.3% during the fourth quarter. State of Wisconsin Investment Board now owns 33,374 shares of the company's stock valued at $5,890,000 after purchasing an additional 89 shares during the period. Finally, MML Investors Services LLC raised its stake in shares of Boot Barn by 2.2% during the second quarter. MML Investors Services LLC now owns 4,262 shares of the company's stock valued at $648,000 after purchasing an additional 93 shares in the last quarter.

Analysts Set New Price Targets

BOOT has been the subject of a number of research analyst reports. BTIG Research cut their target price 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. Robert W. Baird set a $212.00 price objective on shares of Boot Barn in a research report on Thursday, July 30th. UBS Group set a $225.00 target price on shares of Boot Barn in a report on Wednesday, June 17th. Piper Sandler cut their target price on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. Finally, Zacks Research upgraded shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $219.55.

Boot Barn Price Performance

NYSE BOOT opened at $158.42 on Wednesday. Boot Barn Holdings, Inc. has a fifty-two week low of $133.18 and a fifty-two week high of $210.25. The stock's 50-day moving average is $161.68 and its two-hundred day moving average is $165.72. The firm has a market cap of $4.80 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.71.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.60. The business had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 EPS. 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 year.

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.

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