Azzad Asset Management Inc. ADV Purchases 6,149 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Azzad Asset Management Inc. ADV lifted its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 65.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,520 shares of the company's stock after buying an additional 6,149 shares during the period. Azzad Asset Management Inc. ADV owned approximately 0.05% of Boot Barn worth $2,356,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after buying an additional 709,903 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Boot Barn by 48.6% during the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock valued at $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Stephens Investment Management Group LLC purchased a new stake in shares of Boot Barn during the 4th quarter valued at about $46,699,000. Proficio Capital Partners LLC bought a new position in shares of Boot Barn in the 4th quarter worth approximately $45,177,000. Finally, Capital Research Global Investors boosted its holdings in shares of Boot Barn by 32.6% in the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock worth $173,351,000 after buying an additional 280,892 shares during the last quarter.

Boot Barn Stock Up 0.7%

BOOT stock traded up $1.09 during midday trading on Friday, hitting $160.32. The company's stock had a trading volume of 690,185 shares, compared to its average volume of 1,013,985. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64. The company has a 50 day moving average of $117.01 and a two-hundred day moving average of $131.88. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $1.22 EPS 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 return on equity of 17.11% and a net margin of 9.36%. Boot Barn's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. On average, analysts anticipate 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 repurchase program on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction that occurred on 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 transaction, the insider now owns 14,593 shares in the company, valued at approximately $2,344,657.31. The trade was a 14.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider now directly owns 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group upped their target price on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. KeyCorp reduced their price objective on Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen downgraded Boot Barn from a "hold" rating to a "sell" rating in a research report on Monday, February 17th. Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Robert W. Baird raised their price objective on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $171.46.

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.