Quantitative Investment Management LLC Takes Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• Quantitative Investment Management LLC has taken a new position in Boot Barn Holdings, purchasing approximately 8,972 shares valued at around $963,000 during the first quarter.
• Boot Barn reported strong quarterly earnings with an EPS of $1.74, surpassing analysts' expectations of $1.55, and a revenue of $504.07 million, a significant increase year-over-year.
• The company's board approved a $200 million stock buyback program, indicating confidence in the stock's undervaluation, allowing repurchase of up to 4.8% of its shares.

Quantitative Investment Management LLC purchased a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,972 shares of the company's stock, valued at approximately $963,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BOOT. Opal Wealth Advisors LLC acquired a new position in shares of Boot Barn in the first quarter valued at approximately $29,000. Golden State Wealth Management LLC raised its position in Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after purchasing an additional 203 shares during the last quarter. Versant Capital Management Inc raised its position in Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after purchasing an additional 215 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Boot Barn in the 1st quarter valued at $44,000. Finally, Bayforest Capital Ltd purchased a new stake in Boot Barn in the 1st quarter valued at $48,000.

Boot Barn Trading Up 2.5%

Shares of NYSE BOOT opened at $173.5020 on Monday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.76 and a beta of 1.76. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $183.60. The company's 50-day moving average price is $166.49 and its 200 day moving average price is $138.31.

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

Boot Barn announced that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BOOT. BTIG Research upped their price target on Boot Barn from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Piper Sandler upped their price objective on shares of Boot Barn from $184.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Citigroup increased their price target on shares of Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th. UBS Group increased their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a report on Monday, July 28th. One investment 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $182.54.

Boot Barn 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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