Algert Global LLC Decreases Stake in Boot Barn Holdings, Inc. $BOOT

Key Points

• Algert Global LLC reduced its holdings in Boot Barn Holdings, Inc. by 23.5%, owning 29,672 shares after selling 9,108 shares.
• Analysts are optimistic about Boot Barn, with several increasing their target prices, including JPMorgan Chase, which raised its target from $207 to $247 and maintained an "overweight" rating.
• Boot Barn has initiated a $200 million share buyback program, indicating management's belief that its stock is undervalued.

Algert Global LLC decreased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 23.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,672 shares of the company's stock after selling 9,108 shares during the quarter. Algert Global LLC owned 0.10% of Boot Barn worth $3,188,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BOOT. Opal Wealth Advisors LLC acquired a new position in shares of Boot Barn during the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its stake in 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 buying an additional 203 shares in the last quarter. Versant Capital Management Inc lifted its stake in Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after buying an additional 215 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Boot Barn in the 1st quarter valued at approximately $48,000. Finally, First Horizon Advisors Inc. lifted its stake in Boot Barn by 20.6% in the 1st quarter. First Horizon Advisors Inc. now owns 1,321 shares of the company's stock valued at $142,000 after buying an additional 226 shares in the last quarter.

Boot Barn Price Performance

NYSE BOOT traded down $0.5550 during trading hours on Monday, hitting $172.9450. The company had a trading volume of 404,511 shares, compared to its average volume of 693,476. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $183.60. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.76 and a beta of 1.76. The firm's 50 day moving average is $166.67 and its 200 day moving average is $138.55.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly 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. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.The firm had revenue of $504.07 million during the quarter, compared to the consensus estimate of $489.49 million. During the same period in the prior year, the firm earned $1.26 EPS. The firm's quarterly revenue was up 19.1% compared to the same quarter last year. Boot Barn has set its Q2 2026 guidance at 1.190-1.270 EPS. FY 2026 guidance at 5.800-6.700 EPS. On average, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BOOT shares. JPMorgan Chase & Co. upped their target price on Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Piper Sandler upped their target price on Boot Barn from $184.00 to $185.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $187.00 to $175.00 in a report on Wednesday, July 23rd. UBS Group upped their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, KeyCorp upped their price objective on Boot Barn from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One equities research 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. According to data from MarketBeat, Boot Barn currently has an average rating of "Moderate Buy" and a consensus target price of $182.54.

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.