Royal Bank of Canada Acquires 8,404 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Royal Bank of Canada increased its Boot Barn stake by 22.4% in the first quarter, acquiring 8,404 additional shares for a total of 45,894 shares valued at approximately $6.7 million.
• Boot Barn reported strong quarterly results, with earnings of $2.29 per share versus the $1.69 analyst consensus and revenue of $593.5 million, up 17.7% year over year.
• Analysts maintain a generally positive outlook, giving Boot Barn a consensus “Buy” rating and an average price target of $219.55, compared with a recent share price of $166.09.

Royal Bank of Canada increased its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 22.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,894 shares of the company's stock after acquiring an additional 8,404 shares during the quarter. Royal Bank of Canada owned about 0.15% of Boot Barn worth $6,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in Boot Barn in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Boot Barn during the 3rd quarter valued at about $49,000. Danske Bank A S increased its position in shares of Boot Barn by 200.0% during the fourth quarter. Danske Bank A S now owns 300 shares of the company's stock valued at $53,000 after buying an additional 200 shares during the period. Hantz Financial Services Inc. increased its position in shares of Boot Barn by 284.1% during the fourth quarter. Hantz Financial Services Inc. now owns 338 shares of the company's stock valued at $60,000 after buying an additional 250 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in shares of Boot Barn during the third quarter valued at about $60,000.

Boot Barn Price Performance

NYSE:BOOT opened at $166.09 on Wednesday. The firm has a market capitalization of $5.03 billion, a P/E ratio of 21.02, a PEG ratio of 1.08 and a beta of 1.71. Boot Barn Holdings, Inc. has a one year low of $133.18 and a one year high of $210.25. The company's 50-day simple moving average is $162.32 and its 200 day simple moving average is $166.39.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business had revenue of $593.51 million during the quarter, compared to the consensus estimate of $583.15 million. During the same quarter last year, the firm earned $1.74 earnings per share. The business's revenue for the quarter was up 17.7% on a year-over-year basis. 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. On average, equities research analysts expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BOOT has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. UBS Group set a $225.00 target price on Boot Barn in a report on Wednesday, June 17th. TD Cowen decreased their target price on Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Piper Sandler lowered their target price on Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. Finally, Citigroup restated a "buy" rating on shares of Boot Barn in a research report on Monday, May 4th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $219.55.

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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