Ranger Investment Management L.P. Buys New Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• Ranger Investment Management bought 90,241 Boot Barn shares worth approximately $14.8 million, representing about 0.30% of the company. Several other institutional investors also increased their positions.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $219.55, despite some target reductions and a rating downgrade.
• Boot Barn reported quarterly EPS of $2.29, beating estimates of $1.69, while revenue rose 17.7% year over year to $593.5 million. Shares opened at $164.44, within a 12-month range of $133.18 to $210.25.

Ranger Investment Management L.P. bought a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 90,241 shares of the company's stock, valued at approximately $14,824,000. Ranger Investment Management L.P. owned about 0.30% of Boot Barn at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in Boot Barn by 361.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company's stock worth $7,091,000 after acquiring an additional 37,951 shares in the last quarter. Principal Financial Group Inc. raised its position in Boot Barn by 11.4% during the fourth quarter. Principal Financial Group Inc. now owns 393,098 shares of the company's stock valued at $69,370,000 after purchasing an additional 40,282 shares in the last quarter. UBS Group AG lifted its stake in Boot Barn by 16.4% during the fourth quarter. UBS Group AG now owns 172,380 shares of the company's stock worth $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Fifth Third Bancorp lifted its stake in Boot Barn by 15,768.5% during the first quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock worth $5,017,000 after purchasing an additional 34,060 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Boot Barn by 335.5% in the 1st quarter. Hsbc Holdings PLC now owns 14,527 shares of the company's stock worth $2,132,000 after purchasing an additional 11,191 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on BOOT. Weiss Ratings cut Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 18th. Piper Sandler reduced their price target on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. Zacks Research raised shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Robert W. Baird set a $212.00 price objective on shares of Boot Barn in a report on Thursday, July 30th. Finally, Stephens upped their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $219.55.

Boot Barn Stock Down 0.7%

Shares of BOOT opened at $164.44 on Monday. The stock has a market capitalization of $4.98 billion, a P/E ratio of 20.82, a PEG ratio of 1.07 and a beta of 1.71. The firm has a fifty day simple moving average of $161.33 and a two-hundred day simple moving average of $165.42. Boot Barn Holdings, Inc. has a twelve month low of $133.18 and a twelve month high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.60. The business had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company's revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm 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. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 9.18 EPS for the current fiscal 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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