Emerald Investment Advisers LLC Acquires New Position in Boot Barn Holdings, Inc. $BOOT

Emerald Investment Advisers LLC acquired a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,690 shares of the company’s stock, valued at approximately $6,356,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Boot Barn by 361.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company’s stock worth $7,091,000 after acquiring an additional 37,951 shares during the period. Principal Financial Group Inc. raised its holdings in Boot Barn by 11.4% during the fourth quarter. Principal Financial Group Inc. now owns 393,098 shares of the company’s stock worth $69,370,000 after purchasing an additional 40,282 shares during the last quarter. UBS Group AG raised its holdings in Boot Barn by 16.4% during the fourth quarter. UBS Group AG now owns 172,380 shares of the company’s stock worth $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in Boot Barn during the fourth quarter worth $2,644,000. Finally, Fifth Third Bancorp boosted its position in Boot Barn by 15,768.5% during the first quarter. Fifth Third Bancorp now owns 34,276 shares of the company’s stock worth $5,017,000 after purchasing an additional 34,060 shares in the last quarter.

Analyst Ratings Changes

Several analysts have weighed in on the company. Piper Sandler lowered their target price on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Weiss Ratings downgraded Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Bank of America decreased their price objective on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. UBS Group set a $225.00 price objective on shares of Boot Barn in a research note on Wednesday, June 17th. Finally, Stephens raised their target price on shares of Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $219.55.

Boot Barn Stock Performance

BOOT stock opened at $164.44 on Friday. Boot Barn Holdings, Inc. has a 1 year low of $133.18 and a 1 year high of $210.25. The stock’s 50 day moving average price is $161.33 and its 200 day moving average price is $165.54. The firm has a market cap of $4.98 billion, a P/E ratio of 20.82, a PEG ratio of 1.03 and a beta of 1.71.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.Boot Barn’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. On average, research analysts predict that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

Boot Barn 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.