Magnetar Financial LLC Buys Shares of 55,794 Boot Barn Holdings, Inc. $BOOT

Key Points

• Magnetar Financial LLC acquired 55,794 shares of Boot Barn Holdings, Inc., investing approximately $5,994,000 and owning 0.18% of the company.
• Analysts have increased their price targets for Boot Barn, with BTIG Research raising its target to $218.00 and multiple firms giving a "buy" rating, indicating strong market confidence.
• Boot Barn recently reported a quarterly EPS of $1.74, exceeding expectations, and has set future guidance for Q2 2026 at 1.190-1.270 EPS.

Magnetar Financial LLC bought a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,794 shares of the company's stock, valued at approximately $5,994,000. Magnetar Financial LLC owned approximately 0.18% of Boot Barn as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Boot Barn by 24.8% in the 1st quarter. Invesco Ltd. now owns 903,453 shares of the company's stock worth $97,058,000 after purchasing an additional 179,710 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Boot Barn by 206.5% during the 1st quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock worth $78,856,000 after purchasing an additional 494,523 shares during the period. American Century Companies Inc. lifted its holdings in Boot Barn by 15.3% during the 1st quarter. American Century Companies Inc. now owns 569,390 shares of the company's stock valued at $61,170,000 after buying an additional 75,413 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Boot Barn by 42.1% in the 1st quarter. Ameriprise Financial Inc. now owns 503,619 shares of the company's stock valued at $54,110,000 after purchasing an additional 149,115 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its position in Boot Barn by 51.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 465,787 shares of the company's stock worth $50,039,000 after purchasing an additional 158,195 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BOOT shares. BTIG Research increased their target price on shares of Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Cowen reaffirmed a "buy" rating on shares of Boot Barn in a research report on Monday, July 28th. Piper Sandler raised their price target on Boot Barn from $184.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Bank of America raised their price objective on Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Boot Barn currently has an average rating of "Moderate Buy" and a consensus price target of $182.54.

Boot Barn Stock Performance

Boot Barn stock traded up $3.97 during midday trading on Tuesday, reaching $181.74. The stock had a trading volume of 486,091 shares, compared to its average volume of 869,510. The stock has a market capitalization of $5.55 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $183.60. The firm's fifty day simple moving average is $168.11 and its 200-day simple moving average is $140.02.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly 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 firm had revenue of $504.07 million for the quarter, compared to analyst estimates of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.The business's quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. 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, sell-side 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 of Directors has initiated a share buyback program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

About Boot Barn

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.