Boot Barn Holdings, Inc. (NYSE:BOOT) Holdings Boosted by Select Equity Group L.P.

Select Equity Group L.P. boosted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,997 shares of the company’s stock after purchasing an additional 730 shares during the period. Select Equity Group L.P.’s holdings in Boot Barn were worth $1,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Shellback Capital LP increased its stake in Boot Barn by 123.7% in the 4th quarter. Shellback Capital LP now owns 110,300 shares of the company’s stock valued at $16,746,000 after buying an additional 61,000 shares during the period. Silvercrest Asset Management Group LLC increased its stake in Boot Barn by 19.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 203,559 shares of the company’s stock valued at $30,904,000 after buying an additional 32,455 shares during the period. ProShare Advisors LLC increased its stake in Boot Barn by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 8,938 shares of the company’s stock valued at $1,357,000 after buying an additional 2,745 shares during the period. Quantinno Capital Management LP increased its stake in Boot Barn by 9.0% in the 4th quarter. Quantinno Capital Management LP now owns 2,146 shares of the company’s stock valued at $326,000 after buying an additional 177 shares during the period. Finally, Man Group plc increased its stake in Boot Barn by 228.9% in the 4th quarter. Man Group plc now owns 125,871 shares of the company’s stock valued at $19,110,000 after buying an additional 87,599 shares during the period.

Boot Barn Trading Up 1.3%

NYSE:BOOT opened at $156.99 on Friday. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $176.64. The firm’s fifty day simple moving average is $107.05 and its 200 day simple moving average is $130.04. The firm has a market capitalization of $4.80 billion, a PE ratio of 28.03, a PEG ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The firm had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. As a group, analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its board has initiated a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BOOT has been the topic of several research reports. Bank of America upped their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp dropped their price objective on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird increased their price target on shares of Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup increased their price target on shares of Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.62.

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.