Rhumbline Advisers Grows Stake in Boot Barn Holdings Inc (NYSE:BOOT)

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Rhumbline Advisers raised its stake in Boot Barn Holdings Inc (NYSE:BOOT) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,142 shares of the company’s stock after purchasing an additional 671 shares during the quarter. Rhumbline Advisers owned about 0.29% of Boot Barn worth $2,867,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Private Capital Group LLC raised its position in Boot Barn by 110.6% in the second quarter. Private Capital Group LLC now owns 1,255 shares of the company’s stock valued at $26,000 after purchasing an additional 659 shares during the period. LS Investment Advisors LLC purchased a new position in Boot Barn in the second quarter valued at about $33,000. Sterling Investment Advisors Ltd. purchased a new position in Boot Barn in the second quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Boot Barn by 43.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock valued at $56,000 after purchasing an additional 476 shares during the period. Finally, Flinton Capital Management LLC purchased a new position in Boot Barn in the second quarter valued at about $90,000.

NYSE:BOOT traded up $0.71 during mid-day trading on Tuesday, reaching $42.04. The stock had a trading volume of 17,795 shares, compared to its average volume of 849,664. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 1.51 and a beta of 2.31. Boot Barn Holdings Inc has a 1-year low of $15.01 and a 1-year high of $41.40. The stock’s 50 day simple moving average is $36.33 and its two-hundred day simple moving average is $32.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.14 and a quick ratio of 0.12.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The business had revenue of $187.20 million during the quarter, compared to the consensus estimate of $184.13 million. Boot Barn had a return on equity of 16.61% and a net margin of 5.51%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. Sell-side analysts anticipate that Boot Barn Holdings Inc will post 1.76 EPS for the current fiscal year.

In related news, Director Greg Bettinelli sold 3,906 shares of Boot Barn stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.84, for a total value of $136,085.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Grant Conroy sold 28,569 shares of Boot Barn stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $35.00, for a total value of $999,915.00. Following the completion of the transaction, the chief executive officer now owns 39,647 shares of the company’s stock, valued at $1,387,645. The disclosure for this sale can be found here. Insiders sold 60,968 shares of company stock valued at $2,072,477 over the last quarter. Insiders own 1.70% of the company’s stock.

A number of analysts have recently issued reports on the company. Craig Hallum assumed coverage on Boot Barn in a research report on Friday, October 4th. They set a “buy” rating and a $46.00 target price on the stock. Citigroup lowered Boot Barn from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $33.00 in a research report on Monday, July 15th. Stephens assumed coverage on Boot Barn in a research report on Tuesday, October 8th. They set an “overweight” rating and a $46.00 target price on the stock. Pivotal Research lifted their target price on Boot Barn from $35.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Zacks Investment Research raised Boot Barn from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $38.17.

Boot Barn Company Profile

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.

See Also: What does a neutral rating on stocks mean?

Institutional Ownership by Quarter for Boot Barn (NYSE:BOOT)

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