Diversify Advisory Services LLC Purchases Shares of 13,394 Boot Barn Holdings, Inc. $BOOT

Key Points

• Diversify Advisory Services acquired 13,394 Boot Barn shares in the second quarter, valued at approximately $2.08 million. Several other institutional investors also increased or initiated positions.
• Analysts maintain a bullish outlook, with one Strong Buy, 11 Buy ratings and one Hold rating; the consensus price target is $219.55, despite some recent target reductions.
• Boot Barn’s latest quarterly results exceeded expectations, with EPS of $2.29 versus $1.69 expected and revenue of $593.5 million, up 17.7% year over year.

Diversify Advisory Services LLC acquired a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,394 shares of the company's stock, valued at approximately $2,078,000.

Several other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in Boot Barn by 361.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company's stock worth $7,091,000 after buying an additional 37,951 shares during the last quarter. Principal Financial Group Inc. raised its stake in Boot Barn by 11.4% in the fourth quarter. Principal Financial Group Inc. now owns 393,098 shares of the company's stock valued at $69,370,000 after buying an additional 40,282 shares during the period. UBS Group AG lifted its position in shares of Boot Barn by 16.4% in the fourth quarter. UBS Group AG now owns 172,380 shares of the company's stock valued at $30,420,000 after buying an additional 24,229 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Boot Barn in the fourth quarter valued at approximately $2,644,000. Finally, Fifth Third Bancorp boosted its stake in shares of Boot Barn by 15,768.5% during the 1st quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock worth $5,017,000 after acquiring an additional 34,060 shares during the period.

Analysts Set New Price Targets

A number of research firms recently weighed in on BOOT. Piper Sandler decreased their target price on Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a report on Friday, May 15th. Citigroup reaffirmed a "buy" rating on shares of Boot Barn in a report on Monday, May 4th. UBS Group set a $225.00 price objective on shares of Boot Barn in a research report on Wednesday, June 17th. Robert W. Baird set a $212.00 price objective on shares of Boot Barn in a report on Thursday, July 30th. Finally, Bank of America dropped their price objective on shares of Boot Barn from $224.00 to $206.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $219.55.

Boot Barn Stock Performance

BOOT stock opened at $158.42 on Wednesday. The company's 50-day simple moving average is $161.68 and its 200 day simple moving average is $165.72. Boot Barn Holdings, Inc. has a 52 week low of $133.18 and a 52 week high of $210.25. The company has a market capitalization of $4.80 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.71.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.60. The business had revenue of $593.51 million during the quarter, compared to analysts' expectations of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business's revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.74 EPS. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. On average, analysts forecast that Boot Barn Holdings, Inc. will post 9.18 EPS for the current year.

Boot Barn Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.

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