Peregrine Capital Management LLC Cuts Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Peregrine Capital Management LLC cut its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 18.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 66,408 shares of the company's stock after selling 15,334 shares during the period. Peregrine Capital Management LLC owned approximately 0.22% of Boot Barn worth $8,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BOOT. GAMMA Investing LLC boosted its stake in shares of Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company's stock valued at $34,000 after buying an additional 140 shares during the last quarter. Headlands Technologies LLC raised its stake in Boot Barn by 1,037.7% during the fourth quarter. Headlands Technologies LLC now owns 785 shares of the company's stock valued at $60,000 after buying an additional 716 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Boot Barn during the 2nd quarter worth approximately $84,000. Principal Securities Inc. acquired a new position in shares of Boot Barn in the 4th quarter worth approximately $102,000. Finally, Quest Partners LLC bought a new stake in shares of Boot Barn in the 4th quarter valued at approximately $112,000.

Boot Barn Stock Performance

Shares of NYSE:BOOT traded down $3.38 during trading hours on Friday, hitting $134.22. 502,343 shares of the company's stock traded hands, compared to its average volume of 786,707. The company's fifty day simple moving average is $129.61 and its two-hundred day simple moving average is $112.53. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 27.96 and a beta of 2.09. Boot Barn Holdings, Inc. has a 52 week low of $66.73 and a 52 week high of $143.57.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.18. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. The firm had revenue of $423.40 million during the quarter, compared to analysts' expectations of $415.04 million. During the same period last year, the firm posted $1.11 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Boot Barn Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BOOT shares. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $125.00 to $146.00 and gave the stock an "overweight" rating in a report on Monday, July 22nd. Craig Hallum upped their target price on Boot Barn from $120.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 5th. Benchmark reissued a "buy" rating and issued a $140.00 price target on shares of Boot Barn in a report on Tuesday, August 6th. TD Cowen upped their price objective on Boot Barn from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, June 5th. Finally, Robert W. Baird raised their target price on Boot Barn from $132.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Boot Barn presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.20.

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.

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