Landscape Capital Management L.L.C. Acquires Shares of 26,046 Boot Barn Holdings, Inc. $BOOT

Key Points

• Landscape Capital Management L.L.C. has acquired 26,046 shares of Boot Barn Holdings, valued at approximately $2.8 million, representing about 0.09% of the company at the end of the last quarter.
• Boot Barn's quarterly earnings surpassed analyst estimates, reporting $1.74 earnings per share, with revenue at $504.07 million, a 19.1% increase year-over-year.
• The company has initiated a $200 million stock buyback program, indicating management's belief that the stock is currently undervalued.

Landscape Capital Management L.L.C. acquired a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 26,046 shares of the company's stock, valued at approximately $2,798,000. Landscape Capital Management L.L.C. owned about 0.09% of Boot Barn as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BOOT. Stifel Financial Corp boosted its stake in shares of Boot Barn by 14.0% during the fourth quarter. Stifel Financial Corp now owns 23,465 shares of the company's stock valued at $3,562,000 after purchasing an additional 2,873 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Boot Barn by 10.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,511 shares of the company's stock valued at $3,418,000 after acquiring an additional 2,146 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock valued at $208,000 after acquiring an additional 97 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Boot Barn in the 4th quarter worth approximately $1,642,000. Finally, Northern Trust Corp increased its holdings in Boot Barn by 20.8% in the 4th quarter. Northern Trust Corp now owns 369,365 shares of the company's stock worth $56,077,000 after buying an additional 63,536 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BOOT. Piper Sandler raised their price objective on shares of Boot Barn from $184.00 to $185.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their price objective on Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a report on Monday, July 28th. BTIG Research raised their target price on Boot Barn from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Citigroup raised their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, UBS Group raised their price objective on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $182.54.

Boot Barn Price Performance

Shares of NYSE:BOOT traded up $3.44 during trading on Tuesday, reaching $181.21. The company had a trading volume of 282,859 shares, compared to its average volume of 869,174. The stock's fifty day moving average price is $168.11 and its 200 day moving average price is $140.02. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $183.60. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.

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

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

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.