Summit Creek Advisors LLC Makes New $7.05 Million Investment in Boot Barn Holdings, Inc. $BOOT

Key Points

• Summit Creek Advisors purchased 42,947 Boot Barn shares worth approximately $7.05 million, making the retailer about 2.4% of its portfolio. Other institutional investors, including BlackRock and Deutsche Bank, also initiated positions during the quarter.
• Boot Barn reported quarterly EPS of $2.29, beating estimates by $0.60, while revenue rose 17.7% year over year to $593.51 million. Analysts expect approximately $9.18 in EPS for the current fiscal year.
• The stock opened at $158.42, below its 52-week high of $210.25. Despite some analysts lowering price targets, Boot Barn retains a consensus “Buy” rating and a $219.55 average target price.

Summit Creek Advisors LLC bought a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,947 shares of the company's stock, valued at approximately $7,055,000. Boot Barn makes up approximately 2.4% of Summit Creek Advisors LLC's investment portfolio, making the stock its 10th largest position. Summit Creek Advisors LLC owned about 0.14% of Boot Barn as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First National Bank of Omaha bought a new stake in shares of Boot Barn in the second quarter worth $489,000. Alamar Capital Management LLC acquired a new position in Boot Barn during the 2nd quarter worth $1,693,000. BlackRock Inc. acquired a new position in Boot Barn during the 2nd quarter worth $840,629,000. Deutsche Bank AG bought a new stake in shares of Boot Barn in the 2nd quarter worth about $7,408,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Boot Barn in the 2nd quarter valued at about $594,000.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $158.42 on Wednesday. The firm has a market capitalization of $4.80 billion, a PE ratio of 20.05, a P/E/G ratio of 1.05 and a beta of 1.71. Boot Barn Holdings, Inc. has a 1-year low of $133.18 and a 1-year high of $210.25. The business's fifty day moving average price is $161.68 and its two-hundred day moving average price is $165.72.

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, beating the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company had revenue of $593.51 million during the quarter, compared to the consensus estimate of $583.15 million. During the same quarter in the previous year, the company posted $1.74 earnings per share. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. 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. Equities research analysts expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BOOT. Bank of America lowered their price objective on Boot Barn from $224.00 to $206.00 and set a "buy" rating for the company in a report on Friday, May 15th. Robert W. Baird set a $212.00 price target on Boot Barn in a report on Thursday, July 30th. Weiss Ratings raised Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. TD Cowen decreased their price objective on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Citigroup reiterated a "buy" rating on shares of Boot Barn in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $219.55.

Boot Barn Company 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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