Azzad Asset Management Inc. ADV Acquires 6,148 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Azzad Asset Management Inc. ADV raised its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 39.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,668 shares of the company's stock after purchasing an additional 6,148 shares during the quarter. Azzad Asset Management Inc. ADV owned about 0.07% of Boot Barn worth $2,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Boot Barn by 1.4% in the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock valued at $901,000 after buying an additional 82 shares in the last quarter. Cetera Investment Advisers raised its position in Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock worth $1,242,000 after purchasing an additional 83 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock worth $208,000 after purchasing an additional 97 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Boot Barn by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock worth $470,000 after purchasing an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Boot Barn by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company's stock worth $2,247,000 after purchasing an additional 100 shares in the last quarter.

Boot Barn Stock Performance

BOOT traded up $6.71 during trading on Monday, reaching $163.98. 682,808 shares of the company's stock were exchanged, compared to its average volume of 822,196. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The company's fifty day moving average price is $129.75 and its 200-day moving average price is $133.87. The firm has a market capitalization of $5.02 billion, a PE ratio of 29.28, a P/E/G ratio of 1.17 and a beta of 1.73.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). The business had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The firm's revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. Research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn declared that its board has approved a share buyback program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Boot Barn

In other news, insider Michael A. Love sold 4,154 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider now owns 2,112 shares of the company's stock, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the sale, the insider now owns 14,593 shares of the company's stock, valued at $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BOOT has been the subject of a number of recent research reports. Wall Street Zen cut Boot Barn from a "hold" rating to a "sell" rating in a report on Monday, February 17th. JPMorgan Chase & Co. increased their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Citigroup increased their target price on shares of Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Piper Sandler increased their target price on shares of Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Finally, Bank of America raised their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.67.

About Boot Barn

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.