Renaissance Technologies LLC Makes New Investment in Boot Barn Holdings, Inc. $BOOT

Renaissance Technologies LLC purchased a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 51,900 shares of the company’s stock, valued at approximately $7,596,000.

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

Boot Barn Stock Up 6.7%

Shares of BOOT stock opened at $158.90 on Tuesday. The stock has a 50-day simple moving average of $162.85 and a 200 day simple moving average of $167.57. Boot Barn Holdings, Inc. has a fifty-two week low of $133.18 and a fifty-two week high of $210.25. The stock has a market capitalization of $4.81 billion, a P/E ratio of 20.11, a P/E/G ratio of 0.96 and a beta of 1.71.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The firm had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. During the same period in the previous year, the business earned $1.74 earnings per share. Boot Barn’s revenue for the quarter was up 17.7% compared to the same quarter last year. 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, sell-side analysts anticipate that Boot Barn Holdings, Inc. will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BOOT shares. TD Cowen reduced their price objective on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Piper Sandler dropped their price target on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. BTIG Research reduced their price target on shares of Boot Barn from $235.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday. Jefferies Financial Group upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Monday, April 6th. Finally, UBS Group set a $225.00 price objective on shares of Boot Barn in a research note on Wednesday, June 17th. Eleven 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $222.27.

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.