Principal Financial Group Inc. lifted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT – Free Report) by 11.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 393,098 shares of the company’s stock after purchasing an additional 40,282 shares during the quarter. Principal Financial Group Inc.’s holdings in Boot Barn were worth $69,370,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in Boot Barn during the 3rd quarter worth $25,000. Parkside Financial Bank & Trust increased its stake in shares of Boot Barn by 164.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock valued at $32,000 after buying an additional 120 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Boot Barn during the third quarter worth $49,000. Danske Bank A S raised its position in shares of Boot Barn by 200.0% during the fourth quarter. Danske Bank A S now owns 300 shares of the company’s stock worth $53,000 after acquiring an additional 200 shares during 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.
Analyst Ratings Changes
A number of brokerages recently commented on BOOT. Stephens upgraded Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 price objective for the company in a research report on Friday, February 6th. Citigroup restated a “buy” rating on shares of Boot Barn in a research report on Monday. Jefferies Financial Group raised shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research note on Monday, April 6th. Zacks Research cut shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, BTIG Research reissued a “buy” rating and set a $235.00 price target on shares of Boot Barn in a research note on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Boot Barn has a consensus rating of “Moderate Buy” and a consensus price target of $224.25.
Boot Barn Stock Down 5.2%
Shares of Boot Barn stock opened at $163.00 on Friday. The business has a fifty day simple moving average of $163.73 and a 200 day simple moving average of $180.72. The stock has a market cap of $4.96 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 1.05 and a beta of 1.73. Boot Barn Holdings, Inc. has a 12 month low of $111.60 and a 12 month high of $210.25.
Boot Barn (NYSE:BOOT – Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $2.79 earnings per share for the quarter, meeting the consensus estimate of $2.79. Boot Barn had a return on equity of 18.28% and a net margin of 10.10%.The firm had revenue of $705.64 million for the quarter, compared to analyst estimates of $700.71 million. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Analysts expect that Boot Barn Holdings, Inc. will post 7.33 EPS for the current fiscal year.
About Boot Barn
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.
Further Reading
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