Southernsun Asset Management LLC Boosts Stock Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• Southernsun Asset Management increased its Boot Barn stake by 41% in the first quarter, buying 79,127 more shares and bringing its holdings to 272,348 shares worth about $39.9 million.
• Analysts remain constructive on Boot Barn, with 12 Buy ratings and 2 Hold ratings, giving the stock a consensus “Moderate Buy” and an average price target of $226.92.
• Boot Barn’s latest results were solid, as the company beat earnings and revenue estimates for the quarter, with revenue up 18.7% year over year and EPS of $1.45 versus the expected $1.43.

Southernsun Asset Management LLC increased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,348 shares of the company's stock after buying an additional 79,127 shares during the period. Boot Barn comprises approximately 5.8% of Southernsun Asset Management LLC's holdings, making the stock its 3rd largest holding. Southernsun Asset Management LLC owned about 0.90% of Boot Barn worth $39,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in Boot Barn during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Boot Barn in the 3rd quarter valued at about $49,000. Danske Bank A S lifted its position in shares of Boot Barn by 200.0% in the 4th quarter. Danske Bank A S now owns 300 shares of the company's stock worth $53,000 after purchasing an additional 200 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Boot Barn by 284.1% in the 4th quarter. Hantz Financial Services Inc. now owns 338 shares of the company's stock worth $60,000 after purchasing an additional 250 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of Boot Barn by 702.3% during the fourth quarter. Global Retirement Partners LLC now owns 353 shares of the company's stock valued at $62,000 after purchasing an additional 309 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Piper Sandler cut their price objective on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a report on Friday, May 15th. Robert W. Baird reduced their price target on Boot Barn from $244.00 to $225.00 and set an "outperform" rating for the company in a research report on Friday, May 15th. BTIG Research reaffirmed a "buy" rating and set a $235.00 price objective on shares of Boot Barn in a research report on Friday, May 15th. TD Cowen reiterated a "buy" rating on shares of Boot Barn in a report on Wednesday, June 17th. Finally, UBS Group set a $225.00 price target on shares of Boot Barn in a research report on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $226.92.

Boot Barn Trading Down 0.7%

NYSE:BOOT opened at $148.83 on Wednesday. The firm has a fifty day simple moving average of $161.81 and a 200-day simple moving average of $170.04. Boot Barn Holdings, Inc. has a 12 month low of $133.18 and a 12 month high of $210.25. The company has a market capitalization of $4.51 billion, a P/E ratio of 20.25, a PEG ratio of 1.05 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.02. The business had revenue of $538.75 million for the quarter, compared to analyst estimates of $531.43 million. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.The company's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 earnings per share. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. Equities analysts forecast that Boot Barn Holdings, Inc. will post 8.56 EPS for the current year.

About Boot Barn

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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