Lazard Asset Management LLC Purchases 4,308 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Lazard Asset Management LLC grew its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 80.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,647 shares of the company's stock after buying an additional 4,308 shares during the period. Lazard Asset Management LLC's holdings in Boot Barn were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOOT. Interval Partners LP acquired a new stake in shares of Boot Barn during the fourth quarter worth about $13,293,000. J. Goldman & Co LP acquired a new stake in shares of Boot Barn during the fourth quarter worth about $17,483,000. Granahan Investment Management LLC raised its position in shares of Boot Barn by 137.7% during the fourth quarter. Granahan Investment Management LLC now owns 83,236 shares of the company's stock worth $12,637,000 after purchasing an additional 48,215 shares during the period. Eisler Capital Management Ltd. acquired a new stake in shares of Boot Barn during the fourth quarter worth about $2,777,000. Finally, Deutsche Bank AG raised its position in Boot Barn by 56.1% in the 4th quarter. Deutsche Bank AG now owns 27,514 shares of the company's stock valued at $4,177,000 after buying an additional 9,887 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. 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 research report on Wednesday, April 23rd. Piper Sandler lifted their target price on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded Boot Barn from a "hold" rating to a "sell" rating in a research note on Monday, February 17th. Robert W. Baird boosted their price target on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Stephens started coverage on Boot Barn in a report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $170.62.

Boot Barn Trading Down 1.5%

Shares of NYSE BOOT traded down $2.32 during mid-day trading on Friday, hitting $157.26. The company had a trading volume of 815,938 shares, compared to its average volume of 828,490. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $176.64. The stock's 50-day moving average price is $112.77 and its 200-day moving average price is $131.14.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The company had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. Boot Barn's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. As a group, equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its board has approved a share repurchase plan on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Boot Barn

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the sale, the insider now owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. The trade was a 14.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company's stock.

Boot Barn 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.