Cynosure Group LLC Buys New Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Cynosure Group LLC purchased a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the 3rd quarter, HoldingsChannel reports. The firm purchased 2,248 shares of the company’s stock, valued at approximately $376,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Point Inc. grew its stake in Boot Barn by 0.8% in the 3rd quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after acquiring an additional 71 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Boot Barn by 3.7% in the third quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock valued at $382,000 after purchasing an additional 82 shares during the period. Fisher Asset Management LLC increased its stake in shares of Boot Barn by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after purchasing an additional 83 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Boot Barn by 11.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after purchasing an additional 94 shares during the last quarter. Finally, Shaker Investments LLC OH lifted its stake in Boot Barn by 1.6% in the 2nd quarter. Shaker Investments LLC OH now owns 6,452 shares of the company’s stock valued at $832,000 after buying an additional 102 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a report on Wednesday, October 30th. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and increased their price objective for the company from $154.00 to $162.00 in a research note on Friday, October 25th. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and set a $192.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Finally, UBS Group raised their price target on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boot Barn has an average rating of “Moderate Buy” and an average price target of $164.55.

Boot Barn Price Performance

Shares of BOOT stock opened at $136.23 on Friday. The company has a market capitalization of $4.16 billion, a PE ratio of 27.36 and a beta of 2.16. The firm’s 50-day moving average is $150.38 and its two-hundred day moving average is $136.47. Boot Barn Holdings, Inc. has a 12 month low of $68.37 and a 12 month high of $169.83.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.48 EPS for the current year.

Boot Barn Profile

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.