Boot Barn Holdings, Inc. (NYSE:BOOT) Stock Position Cut by abrdn plc

abrdn plc trimmed its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 27.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,675 shares of the company’s stock after selling 57,308 shares during the quarter. abrdn plc’s holdings in Boot Barn were worth $25,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in shares of Boot Barn during the 3rd quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Boot Barn by 111.1% during the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after buying an additional 140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Boot Barn in the second quarter worth approximately $64,000. 1620 Investment Advisors Inc. bought a new position in shares of Boot Barn in the second quarter valued at $84,000. Finally, USA Financial Formulas acquired a new stake in shares of Boot Barn during the 3rd quarter valued at $92,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BOOT shares. BTIG Research lifted their target price on Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group boosted their price objective on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Robert W. Baird upgraded shares of 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. Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their price target for the company from $154.00 to $162.00 in a report on Friday, October 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $179.00 price target on shares of Boot Barn in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Down 2.1 %

Boot Barn stock opened at $124.54 on Friday. Boot Barn Holdings, Inc. has a 12 month low of $66.73 and a 12 month high of $169.83. The company’s fifty day simple moving average is $154.30 and its 200-day simple moving average is $132.35. The stock has a market cap of $3.79 billion, a P/E ratio of 25.94 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. On average, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.29 earnings per share for the current fiscal year.

Boot Barn Company 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.