Granahan Investment Management LLC Sells 4,040 Shares of Boot Barn Holdings, Inc. $BOOT

Granahan Investment Management LLC cut its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 10.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,455 shares of the company’s stock after selling 4,040 shares during the quarter. Granahan Investment Management LLC’s holdings in Boot Barn were worth $5,189,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in Boot Barn during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in Boot Barn during the third quarter valued at $49,000. Danske Bank A S grew its stake 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 buying an additional 200 shares in the last quarter. Hantz Financial Services Inc. grew its stake 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 buying an additional 250 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Boot Barn in the 3rd quarter worth about $60,000.

Boot Barn Trading Up 1.5%

Shares of NYSE:BOOT opened at $150.04 on Friday. 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 $4.55 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.03 and a beta of 1.69. The firm’s 50-day moving average is $162.04 and its 200 day moving average is $169.44.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The business had revenue of $538.75 million during the quarter, compared to the consensus estimate of $531.43 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. 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. As a group, equities analysts forecast that Boot Barn Holdings, Inc. will post 8.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BOOT. Robert W. Baird lowered their price target on shares of Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, May 15th. TD Cowen reissued a “buy” rating on shares of Boot Barn in a research note on Wednesday, June 17th. BTIG Research restated a “buy” rating and set a $235.00 price objective on shares of Boot Barn in a research report on Friday, May 15th. Piper Sandler lowered their price objective on Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Finally, Weiss Ratings cut Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.92.

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.