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

Granahan Investment Management LLC decreased its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,455 shares of the company’s stock after selling 4,040 shares during the quarter. Granahan Investment Management LLC owned approximately 0.12% of Boot Barn worth $5,189,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BOOT. Los Angeles Capital Management LLC purchased a new position in shares of Boot Barn during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Boot Barn in the 3rd quarter worth approximately $49,000. Danske Bank A S raised its stake in Boot Barn by 200.0% during the 4th quarter. Danske Bank A S now owns 300 shares of the company’s stock worth $53,000 after acquiring an additional 200 shares during the period. Hantz Financial Services Inc. raised its stake in Boot Barn by 284.1% during the 4th quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock worth $60,000 after acquiring an additional 250 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in Boot Barn during the third quarter valued at approximately $60,000.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BOOT. Robert W. Baird reduced their price objective on shares of Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Bank of America cut their price target on Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a research note on Friday, May 15th. UBS Group set a $225.00 price target on Boot Barn in a report on Wednesday, June 17th. Piper Sandler lowered their price objective on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Boot Barn in a research note on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $226.92.

Boot Barn Stock Performance

BOOT opened at $150.04 on Friday. The stock 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 company has a fifty day moving average of $162.04 and a 200 day moving average of $169.44. Boot Barn Holdings, Inc. has a fifty-two week low of $133.18 and a fifty-two week high of $210.25.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Thursday, May 14th. The company reported $1.45 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 for the quarter, compared to analysts’ expectations of $531.43 million. During the same quarter in the previous year, the company earned $1.22 EPS. The business’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. On average, equities research analysts forecast that Boot Barn Holdings, Inc. will post 8.56 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.