Envestnet Portfolio Solutions Inc. Purchases 2,554 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Boot Barn Holdings by 54.4%, acquiring an additional 2,554 shares, bringing its total holdings to 7,250 shares valued at approximately $1.1 million.
• Analysts have mixed opinions on Boot Barn, with Jefferies downgrading the stock from a "buy" to a "hold," while others, such as Cowen and BTIG Research, maintain a "buy" rating and have adjusted price targets upwards.
• Boot Barn reported strong quarterly earnings, with a EPS of $1.74 compared to an expected $1.55, and a year-over-year revenue increase of 19.1%, prompting updated guidance for the upcoming fiscal year.

Envestnet Portfolio Solutions Inc. raised its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 54.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,250 shares of the company's stock after acquiring an additional 2,554 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Boot Barn were worth $1,102,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after acquiring an additional 203 shares during the period. Maseco LLP bought a new stake in shares of Boot Barn in the second quarter valued at approximately $40,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Boot Barn in the first quarter valued at approximately $44,000. Bayforest Capital Ltd bought a new stake in shares of Boot Barn in the first quarter valued at approximately $48,000. Finally, Parallel Advisors LLC boosted its stake in shares of Boot Barn by 512.6% in the second quarter. Parallel Advisors LLC now owns 533 shares of the company's stock valued at $81,000 after buying an additional 446 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut Boot Barn from a "buy" rating to a "hold" rating and cut their price target for the company from $187.00 to $175.00 in a research note on Wednesday, July 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Boot Barn in a research note on Wednesday, October 8th. Cowen reiterated a "buy" rating on shares of Boot Barn in a research note on Monday, July 28th. Piper Sandler boosted their price target on Boot Barn from $184.00 to $185.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, BTIG Research boosted their price target on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Boot Barn currently has an average rating of "Moderate Buy" and a consensus target price of $182.54.

Boot Barn Price Performance

Shares of BOOT opened at $184.75 on Friday. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $191.31. The company has a market cap of $5.65 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.86 and a beta of 1.61. The firm has a 50 day simple moving average of $174.58 and a two-hundred day simple moving average of $154.52.

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

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.

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