Boot Barn Holdings, Inc. $BOOT Shares Bought by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Boot Barn Holdings, Inc. by 13.6%, owning 209,758 shares valued at approximately $22.54 million as of the first quarter.
• Several analysts have boosted their price targets for Boot Barn, with KeyCorp raising its target from $195.00 to $210.00 and Citigroup raising from $137.00 to $180.00, reflecting a strong positive outlook on the stock.
• Boot Barn reported a quarterly earnings per share (EPS) of $1.74, exceeding expectations, and announced a stock repurchase program of $200 million to buy back up to 4.8% of its shares.

T. Rowe Price Investment Management Inc. boosted its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,758 shares of the company's stock after acquiring an additional 25,171 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.69% of Boot Barn worth $22,535,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BOOT. Opal Wealth Advisors LLC bought a new stake in Boot Barn during the first quarter worth approximately $29,000. Golden State Wealth Management LLC increased its stake in Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after acquiring an additional 203 shares during the last quarter. Versant Capital Management Inc increased its stake in Boot Barn by 210.8% during the first 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. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Boot Barn during the first quarter worth approximately $44,000. Finally, Bayforest Capital Ltd bought a new stake in Boot Barn during the first quarter worth approximately $48,000.

Analyst Ratings Changes

Several brokerages have weighed in on BOOT. Piper Sandler boosted 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. Jefferies Financial Group lowered Boot Barn from a "buy" rating to a "hold" rating and dropped their target price for the company from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Bank of America boosted their target price on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Cowen restated a "buy" rating on shares of Boot Barn in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.54.

Boot Barn Trading Up 0.2%

Shares of NYSE BOOT traded up $0.32 during trading hours on Friday, reaching $176.79. The stock had a trading volume of 108,003 shares, compared to its average volume of 870,419. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.80 and a beta of 1.76. The business's fifty day moving average price is $167.43 and its two-hundred day moving average price is $139.32. 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 posted its earnings results on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates 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 revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business 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 research analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

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.