Algert Global LLC Boosts Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Algert Global LLC boosted its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 653.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,001 shares of the company’s stock after purchasing an additional 19,950 shares during the period. Algert Global LLC’s holdings in Boot Barn were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC increased its stake in shares of Boot Barn by 85.0% in the third quarter. Cerity Partners LLC now owns 2,949 shares of the company’s stock worth $493,000 after purchasing an additional 1,355 shares in the last quarter. Citigroup Inc. grew its stake in Boot Barn by 37.1% in the 3rd quarter. Citigroup Inc. now owns 57,870 shares of the company’s stock valued at $9,680,000 after buying an additional 15,673 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Boot Barn by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock valued at $58,999,000 after buying an additional 6,335 shares in the last quarter. Intech Investment Management LLC raised its holdings in Boot Barn by 128.8% during the 3rd quarter. Intech Investment Management LLC now owns 9,147 shares of the company’s stock valued at $1,530,000 after acquiring an additional 5,149 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Boot Barn by 5.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 90,792 shares of the company’s stock worth $15,188,000 after acquiring an additional 4,585 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BOOT. JPMorgan Chase & Co. boosted their price objective on Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Robert W. Baird raised shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price target on the stock in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler reissued an “overweight” rating and issued a $179.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Finally, BTIG Research upped their price target on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $145.45 on Tuesday. The firm has a market capitalization of $4.44 billion, a PE ratio of 29.21 and a beta of 2.16. Boot Barn Holdings, Inc. has a 52-week low of $68.37 and a 52-week high of $169.83. The firm has a fifty day moving average of $151.23 and a 200 day moving average of $136.23.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. On average, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.48 EPS for the current fiscal year.

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.