Clark Capital Management Group Inc. Makes New $4 Million Investment in Boot Barn Holdings, Inc. $BOOT

Key Points

• Clark Capital Management Group Inc. acquired 37,187 shares of Boot Barn Holdings, Inc. valued at approximately $3,995,000, now owning about 0.12% of the company.
• Boot Barn recently announced strong quarterly earnings, reporting a 19.1% increase in revenue year-over-year, along with earnings per share of $1.74, surpassing analyst expectations.
• The company authorized a $200 million share repurchase plan, indicating management's belief that the stock is undervalued.

Clark Capital Management Group Inc. acquired a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 37,187 shares of the company's stock, valued at approximately $3,995,000. Clark Capital Management Group Inc. owned approximately 0.12% of Boot Barn at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BOOT. Artemis Investment Management LLP raised its stake in Boot Barn by 206.5% during the first quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock valued at $78,856,000 after purchasing an additional 494,523 shares in the last quarter. Nuveen LLC bought a new stake in shares of Boot Barn in the 1st quarter worth about $38,387,000. Invesco Ltd. raised its position in shares of Boot Barn by 24.8% during the 1st quarter. Invesco Ltd. now owns 903,453 shares of the company's stock valued at $97,058,000 after buying an additional 179,710 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Boot Barn by 218.0% during the 4th quarter. Nuveen Asset Management LLC now owns 254,080 shares of the company's stock valued at $38,574,000 after buying an additional 174,188 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Boot Barn by 51.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 465,787 shares of the company's stock valued at $50,039,000 after acquiring an additional 158,195 shares during the last quarter.

Boot Barn Stock Performance

Boot Barn stock traded up $4.78 during mid-day trading on Thursday, hitting $188.38. The company's stock had a trading volume of 565,997 shares, compared to its average volume of 445,922. The company has a 50 day moving average of $172.75 and a 200-day moving average of $142.79. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $191.31. The stock has a market cap of $5.76 billion, a PE ratio of 29.71, a P/E/G ratio of 1.86 and a beta of 1.62.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.19. The business had revenue of $504.07 million during the quarter, compared to the consensus estimate of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.The business's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. 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 research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its Board of Directors has approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BTIG Research upped their price objective on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Robert W. Baird boosted their target price on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Piper Sandler raised their price target on Boot Barn from $184.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Jefferies Financial Group cut shares of Boot Barn from a "buy" rating to a "hold" rating and cut their price objective for the company from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Finally, Citigroup increased their target price on shares of Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.54.

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.