Driehaus Capital Management LLC Has $30.25 Million Stock Holdings in Boot Barn Holdings, Inc. $BOOT

Key Points

• Driehaus Capital Management reduced its stake in Boot Barn Holdings by 10.7%, now holding 281,537 shares worth approximately $30.2 million, after selling 33,673 shares in the first quarter.
• Several analysts have increased their price targets for Boot Barn, with JPMorgan Chase & Co. raising it from $207 to $247, indicating a market consensus rating of **Moderate Buy** with an average target price of $182.54.
• Boot Barn reported a strong quarterly earnings performance, with earnings per share of $1.74, surpassing the consensus estimate and showing a 19.1% increase in revenue compared to the same quarter last year.

Driehaus Capital Management LLC cut its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 10.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 281,537 shares of the company's stock after selling 33,673 shares during the period. Driehaus Capital Management LLC owned about 0.92% of Boot Barn worth $30,246,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Boot Barn in the first quarter worth approximately $29,000. Golden State Wealth Management LLC grew its position in Boot Barn by 263.6% in 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 in the last quarter. Versant Capital Management Inc grew its position in Boot Barn by 210.8% in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Boot Barn in the first quarter worth approximately $44,000. Finally, Bayforest Capital Ltd bought a new stake in Boot Barn in the first quarter worth approximately $48,000.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group downgraded shares of Boot Barn from a "buy" rating to a "hold" rating and decreased their target price for the stock from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. BTIG Research boosted their target price on shares of Boot Barn from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, UBS Group lifted their target price on shares of Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.54.

Boot Barn Trading Up 2.2%

NYSE:BOOT traded up $3.97 during trading hours on Tuesday, hitting $181.74. 486,117 shares of the company traded hands, compared to its average volume of 870,525. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.81 and a beta of 1.62. Boot Barn Holdings, Inc. has a twelve month low of $86.17 and a twelve month high of $183.60. The firm has a 50-day moving average of $168.11 and a 200 day moving average of $140.02.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.55 by $0.19. The firm had revenue of $504.07 million during the quarter, compared to analysts' expectations of $489.49 million. Boot Barn had a net margin of 9.81% and a return on equity of 17.73%. The business's quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. 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 predict 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 stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors 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.