Summit Creek Advisors LLC Buys 4,460 Shares of Boot Barn Holdings, Inc. $BOOT

Summit Creek Advisors LLC increased its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,407 shares of the company’s stock after purchasing an additional 4,460 shares during the quarter. Boot Barn makes up approximately 2.3% of Summit Creek Advisors LLC’s portfolio, making the stock its 17th biggest holding. Summit Creek Advisors LLC’s holdings in Boot Barn were worth $5,711,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BOOT. Kornitzer Capital Management Inc. KS raised its stake in shares of Boot Barn by 0.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 44,828 shares of the company’s stock valued at $5,400,000 after buying an additional 257 shares during the period. Parallel Advisors LLC grew its stake in shares of Boot Barn by 24.5% during the 3rd quarter. Parallel Advisors LLC now owns 636 shares of the company’s stock worth $77,000 after acquiring an additional 125 shares during the period. Alps Advisors Inc. grew its stake in shares of Boot Barn by 32.8% during the 3rd quarter. Alps Advisors Inc. now owns 4,063 shares of the company’s stock worth $489,000 after acquiring an additional 1,004 shares during the period. Heritage Family Offices LLP bought a new position in shares of Boot Barn during the 3rd quarter worth $35,000. Finally, Alamar Capital Management LLC increased its holdings in Boot Barn by 53.4% in the 3rd quarter. Alamar Capital Management LLC now owns 15,809 shares of the company’s stock worth $1,905,000 after acquiring an additional 5,503 shares during the last quarter.

Boot Barn Price Performance

NYSE:BOOT opened at $130.96 on Friday. The company has a market cap of $3.92 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.00 and a beta of 1.72. The stock’s fifty day moving average price is $128.83 and its two-hundred day moving average price is $156.99. Boot Barn Holdings, Inc. has a 1 year low of $110.53 and a 1 year high of $210.25.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.10. The company had revenue of $581.81 million during the quarter, compared to analysts’ expectations of $580.80 million. Boot Barn had a return on equity of 18.82% and a net margin of 10.45%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. On average, analysts expect that Boot Barn Holdings, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BOOT has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $187.00 price objective (down from $226.00) on shares of Boot Barn in a research note on Thursday, October 29th. UBS Group dropped their price objective on shares of Boot Barn from $232.00 to $194.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. The Goldman Sachs Group set a $203.00 target price on shares of Boot Barn in a research report on Thursday, October 29th. Stephens lifted their target price on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Finally, Zacks Research lowered shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Twelve investment 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 a consensus price target of $183.92.

About Boot Barn

Boot Barn Holdings, Inc is a specialty retailer focused on Western and work-related apparel, footwear and accessories. The company sells products including cowboy boots, work boots, jeans, shirts, hats, outerwear, belts and other accessories from a range of national and private-label brands.

Boot Barn serves customers through a network of retail stores across the United States, as well as through its e-commerce platform. Its merchandise is marketed to Western lifestyle customers, workers who need durable clothing and footwear, and consumers participating in activities such as rodeo, riding and outdoor recreation.

The company traces its beginnings to 1978 and is headquartered in Irvine, California.