Crystal Rock Capital Management Reduces Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Crystal Rock Capital Management cut its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 29.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,350 shares of the company’s stock after selling 4,700 shares during the quarter. Boot Barn comprises approximately 1.1% of Crystal Rock Capital Management’s holdings, making the stock its 23rd biggest position. Crystal Rock Capital Management’s holdings in Boot Barn were worth $1,899,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Boot Barn by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 4,787 shares of the company’s stock worth $455,000 after buying an additional 150 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Boot Barn by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 26,519 shares of the company’s stock worth $2,523,000 after buying an additional 358 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Boot Barn by 1.2% in the first quarter. Swiss National Bank now owns 59,800 shares of the company’s stock worth $5,690,000 after buying an additional 700 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Boot Barn by 52.5% in the first quarter. Sei Investments Co. now owns 73,884 shares of the company’s stock worth $7,030,000 after buying an additional 25,434 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Boot Barn by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 131,658 shares of the company’s stock worth $12,527,000 after purchasing an additional 14,980 shares during the last quarter.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $136.55 on Tuesday. Boot Barn Holdings, Inc. has a 52-week low of $68.37 and a 52-week high of $169.83. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 27.42 and a beta of 2.16. The company’s 50 day moving average price is $153.01 and its 200-day moving average price is $134.11.

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, topping the consensus estimate 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 analysts’ expectations of $424.42 million. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BOOT has been the topic of several research analyst reports. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup decreased their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and upped their price objective for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Benchmark restated a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective on the stock in a research report on Wednesday, October 30th. One investment 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. Based on data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and an average target price of $164.55.

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.