Intech Investment Management LLC Purchases 5,149 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Intech Investment Management LLC lifted its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 128.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,147 shares of the company’s stock after purchasing an additional 5,149 shares during the quarter. Intech Investment Management LLC’s holdings in Boot Barn were worth $1,530,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Boot Barn by 5.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 90,792 shares of the company’s stock worth $15,188,000 after purchasing an additional 4,585 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Boot Barn in the third quarter worth about $5,931,000. Thrivent Financial for Lutherans increased its holdings in shares of Boot Barn by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock worth $82,895,000 after purchasing an additional 1,834 shares during the last quarter. KBC Group NV increased its holdings in shares of Boot Barn by 23.3% in the third quarter. KBC Group NV now owns 951 shares of the company’s stock worth $159,000 after purchasing an additional 180 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Boot Barn by 51.1% in the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock worth $2,402,000 after purchasing an additional 4,856 shares during the last quarter.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $145.45 on Tuesday. Boot Barn Holdings, Inc. has a 1 year low of $68.37 and a 1 year high of $169.83. The business has a 50 day simple moving average of $151.23 and a two-hundred day simple moving average of $136.23. The firm has a market capitalization of $4.44 billion, a PE ratio of 29.21 and a beta of 2.16.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. Boot Barn’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. Equities research analysts expect that Boot Barn Holdings, Inc. will post 5.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BOOT. Benchmark reissued a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price objective on Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Citigroup reduced their price objective on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.55.

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.