Algert Global LLC Grows Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Algert Global LLC lifted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 653.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,001 shares of the company's stock after acquiring an additional 19,950 shares during the quarter. Algert Global LLC owned 0.08% of Boot Barn worth $3,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of BOOT. Janus Henderson Group PLC increased its holdings in Boot Barn by 1,212.4% during the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company's stock worth $27,134,000 after purchasing an additional 263,444 shares during the period. Marshall Wace LLP bought a new position in shares of Boot Barn in the 2nd quarter worth $19,532,000. Westwood Holdings Group Inc. raised its holdings in Boot Barn by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company's stock worth $51,918,000 after purchasing an additional 124,060 shares in the last quarter. F M Investments LLC bought a new position in shares of Boot Barn during the 2nd quarter worth approximately $14,888,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Boot Barn in the third quarter worth $5,931,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on BOOT. BTIG Research increased their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Williams Trading reaffirmed a "buy" rating and set a $173.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Robert W. Baird raised shares of Boot Barn from a "neutral" rating to an "outperform" rating and set a $167.00 price target on the stock in a report on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $179.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Finally, Benchmark reissued a "buy" rating and set a $192.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boot Barn presently has a consensus rating of "Moderate Buy" and an average target price of $164.55.

Boot Barn Stock Performance

BOOT stock traded down $8.64 during mid-day trading on Tuesday, reaching $136.81. The company had a trading volume of 667,732 shares, compared to its average volume of 770,972. The firm has a fifty day simple moving average of $151.23 and a 200 day simple moving average of $136.23. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 29.21 and a beta of 2.16. Boot Barn Holdings, Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $169.83.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same period last year, the firm posted $0.91 EPS. Boot Barn's quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts predict that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

About Boot Barn

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.