Blair William & Co. IL Purchases 2,090 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Key Points

• Blair William & Co. IL increased its stake in Boot Barn Holdings, Inc. by 52.4%, acquiring an additional 2,090 shares in the first quarter, bringing their total holdings to 6,079 shares valued at $653,000.
• Multiple analysts have provided ratings for Boot Barn, with an average rating of "Moderate Buy" and a consensus price target of $182.54, indicating confidence in its future performance.
• Boot Barn recently announced a stock repurchase plan of $200 million, allowing the company to buy back up to 4.8% of its outstanding shares, suggesting that its leadership believes the stock is undervalued.

Blair William & Co. IL lifted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 52.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,079 shares of the company's stock after purchasing an additional 2,090 shares during the period. Blair William & Co. IL's holdings in Boot Barn were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in BOOT. Opal Wealth Advisors LLC bought a new position in Boot Barn during the 1st quarter worth $29,000. Golden State Wealth Management LLC increased its stake in shares of Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after purchasing an additional 203 shares during the last quarter. Versant Capital Management Inc grew its position in Boot Barn by 210.8% during the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after acquiring an additional 215 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Boot Barn during the 1st quarter worth $48,000. Finally, First Horizon Advisors Inc. grew its position in Boot Barn by 20.6% during the 1st quarter. First Horizon Advisors Inc. now owns 1,321 shares of the company's stock worth $142,000 after acquiring an additional 226 shares during the last quarter.

Insider Activity at Boot Barn

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the transaction, the insider directly owned 14,593 shares of the company's stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael A. Love sold 4,154 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider directly owned 2,112 shares of the company's stock, valued at approximately $328,078.08. This trade represents a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. BTIG Research lifted their target price on Boot Barn from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. UBS Group lifted their target price on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and cut their target price for the stock from $187.00 to $175.00 in a report on Wednesday, July 23rd. Finally, Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 target price on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Boot Barn presently has an average rating of "Moderate Buy" and a consensus price target of $182.54.

Boot Barn Trading Up 4.9%

Shares of BOOT stock traded up $8.06 during trading on Tuesday, hitting $173.17. The company's stock had a trading volume of 643,561 shares, compared to its average volume of 715,714. The company has a market cap of $5.29 billion, a PE ratio of 27.31, a P/E/G ratio of 1.68 and a beta of 1.76. The business has a fifty day moving average of $165.85 and a 200-day moving average of $137.96. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $183.60.

Boot Barn (NYSE:BOOT - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%. Boot Barn's quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. As a group, research analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Boot Barn Company 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.