Congress Asset Management Co. Reduces Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Congress Asset Management Co. decreased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 4.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 479,036 shares of the company’s stock after selling 20,386 shares during the quarter. Congress Asset Management Co.’s holdings in Boot Barn were worth $80,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new position in shares of Boot Barn during the third quarter worth approximately $25,000. GAMMA Investing LLC grew its position in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after purchasing an additional 140 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Boot Barn in the second quarter valued at $64,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Boot Barn in the second quarter valued at about $84,000. Finally, USA Financial Formulas acquired a new stake in shares of Boot Barn during the third quarter worth about $92,000.

Wall Street Analyst Weigh In

BOOT has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $179.00 price target on shares of Boot Barn in a research report on Tuesday. BTIG Research boosted their target price on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday. Baird R W raised Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a research report on Tuesday. Finally, Citigroup cut their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boot Barn currently has an average rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Trading Down 1.6 %

Shares of BOOT traded down $2.07 during trading hours on Thursday, reaching $125.11. The company had a trading volume of 128,488 shares, compared to its average volume of 761,153. Boot Barn Holdings, Inc. has a 12-month low of $66.73 and a 12-month high of $169.83. The firm has a 50 day simple moving average of $154.30 and a 200-day simple moving average of $132.35. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 26.48 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. During the same period last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.29 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.