AlphaQuest LLC Has $729,000 Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• AlphaQuest LLC increased its stake in Boot Barn Holdings by 535.6%, acquiring an additional 5,720 shares in the first quarter, bringing its holdings to 6,788 shares valued at approximately $729,000.
• Boot Barn reported a 19.1% increase in quarterly revenue, totaling $504.07 million, with earnings per share of $1.74, surpassing analysts' expectations of $1.55.
• The company initiated a $200 million share buyback plan, indicating that its leadership believes its shares are undervalued, while multiple analysts have set price targets ranging from $175 to $210 for the stock.

AlphaQuest LLC lifted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 535.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,788 shares of the company's stock after acquiring an additional 5,720 shares during the quarter. AlphaQuest LLC's holdings in Boot Barn were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Boot Barn by 42.1% during the first quarter. Ameriprise Financial Inc. now owns 503,619 shares of the company's stock worth $54,110,000 after acquiring an additional 149,115 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Boot Barn by 13.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 209,758 shares of the company's stock worth $22,535,000 after acquiring an additional 25,171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Boot Barn during the first quarter worth $44,000. Hsbc Holdings PLC bought a new stake in shares of Boot Barn during the first quarter worth $632,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Boot Barn by 24.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 347,340 shares of the company's stock worth $37,315,000 after purchasing an additional 69,279 shares during the period.

Boot Barn Price Performance

Shares of Boot Barn stock traded down $0.75 on Thursday, hitting $176.29. The company had a trading volume of 591,761 shares, compared to its average volume of 875,260. The firm has a market capitalization of $5.39 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.76 and a beta of 1.76. Boot Barn Holdings, Inc. has a twelve month low of $86.17 and a twelve month high of $183.60. The stock has a 50-day moving average of $167.18 and a 200-day moving average of $139.06.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.19. The company had revenue of $504.07 million during 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%.Boot Barn's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm 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. Equities analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on BOOT. Citigroup lifted their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Piper Sandler lifted their price objective on Boot Barn from $184.00 to $185.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Bank of America lifted their price objective on Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group lifted their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Boot Barn presently has a consensus rating of "Moderate Buy" and an average target price of $182.54.

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.