Boot Barn Holdings, Inc. (NYSE:BOOT) Stock Position Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC boosted 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 & Exchange Commission. The firm owned 9,647 shares of the company's stock after purchasing an additional 4,308 shares during the period. Lazard Asset Management LLC's holdings in Boot Barn were worth $1,464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Signaturefd LLC lifted its position in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after buying an additional 111 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company's stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Boot Barn by 45.2% during the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after acquiring an additional 113 shares in the last quarter. R Squared Ltd purchased a new stake in Boot Barn during the 4th quarter worth $102,000. Finally, Smartleaf Asset Management LLC increased its holdings in Boot Barn by 212.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company's stock valued at $115,000 after purchasing an additional 509 shares in the last quarter.

Boot Barn Stock Performance

Shares of NYSE BOOT traded down $2.32 during trading on Friday, reaching $157.26. The stock had a trading volume of 815,938 shares, compared to its average volume of 829,800. The stock has a market cap of $4.81 billion, a PE ratio of 28.08, a P/E/G ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $176.64. The firm's 50 day moving average price is $112.77 and its two-hundred day moving average price is $131.16.

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

Boot Barn announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup boosted their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Stephens assumed coverage on Boot Barn in a research report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target on the stock. Bank of America increased their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Craig Hallum upgraded shares of Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective on the stock in a research note on Wednesday, April 23rd. Finally, KeyCorp decreased their target price on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.62.

Insider Transactions at Boot Barn

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.