UBS Group AG Boosts Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• UBS Group AG increased its stake in Boot Barn by 16.4% in the fourth quarter, buying 24,229 additional shares and ending with 172,380 shares valued at about $30.4 million.
• Analysts remain broadly positive on Boot Barn: UBS recently lifted its price target to $267, and the stock now carries a consensus rating of “Moderate Buy” with an average target price of $224.25.
• Boot Barn’s latest earnings showed solid growth, with quarterly revenue up 16% year over year to $705.64 million and EPS of $2.79, matching Wall Street expectations.

UBS Group AG raised its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 16.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 172,380 shares of the company's stock after purchasing an additional 24,229 shares during the period. UBS Group AG owned 0.57% of Boot Barn worth $30,420,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in Boot Barn during the 3rd quarter valued at about $25,000. Parkside Financial Bank & Trust increased its position in Boot Barn by 164.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company's stock valued at $32,000 after purchasing an additional 120 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Boot Barn during the 3rd quarter valued at about $49,000. Johnson Financial Group Inc. purchased a new position in Boot Barn during the 3rd quarter valued at about $60,000. Finally, Huntington National Bank increased its position in Boot Barn by 64.3% during the 3rd quarter. Huntington National Bank now owns 529 shares of the company's stock valued at $88,000 after purchasing an additional 207 shares during the period.

Analyst Ratings Changes

A number of research firms have commented on BOOT. UBS Group raised their target price on shares of Boot Barn from $265.00 to $267.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Zacks Research downgraded shares of Boot Barn from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. BTIG Research reissued a "buy" rating and set a $235.00 target price on shares of Boot Barn in a research report on Thursday, February 5th. Jefferies Financial Group raised shares of Boot Barn from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a research report on Monday, April 6th. Finally, Stephens raised shares of Boot Barn from an "equal weight" rating to an "overweight" rating and set a $237.00 target price on the stock in a research report on Friday, February 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $224.25.

Boot Barn Stock Performance

NYSE:BOOT opened at $163.06 on Friday. Boot Barn Holdings, Inc. has a fifty-two week low of $116.79 and a fifty-two week high of $210.25. The stock has a market capitalization of $4.96 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.00 and a beta of 1.73. The company's 50-day simple moving average is $163.73 and its 200-day simple moving average is $180.72.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $2.79 earnings per share for the quarter, meeting analysts' consensus estimates of $2.79. Boot Barn had a net margin of 10.10% and a return on equity of 18.28%. The business had revenue of $705.64 million for the quarter, compared to analysts' expectations of $700.71 million. During the same period last year, the business earned $2.43 EPS. The company's revenue was up 16.0% compared to the same quarter last year. On average, research analysts forecast that Boot Barn Holdings, Inc. will post 7.33 EPS for the current year.

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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