Fred Alger Management LLC Buys New Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Fred Alger Management LLC bought a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT) during the second quarter, HoldingsChannel reports. The fund bought 12,029 shares of the company’s stock, valued at approximately $1,551,000.

A number of other large investors have also recently bought and sold shares of BOOT. Vanguard Group Inc. increased its holdings in shares of Boot Barn by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,744,105 shares of the company’s stock valued at $210,638,000 after purchasing an additional 35,925 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Boot Barn by 186.6% in the fourth quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock worth $197,527,000 after acquiring an additional 1,675,410 shares during the period. Wasatch Advisors LP boosted its stake in shares of Boot Barn by 43.8% during the 1st quarter. Wasatch Advisors LP now owns 2,131,689 shares of the company’s stock worth $202,830,000 after acquiring an additional 649,021 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Boot Barn by 35.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock worth $53,733,000 after acquiring an additional 182,130 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in shares of Boot Barn by 17.1% during the 1st quarter. Congress Asset Management Co. MA now owns 558,235 shares of the company’s stock worth $53,116,000 after acquiring an additional 81,503 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BOOT shares. Benchmark reissued a “buy” rating and set a $140.00 target price on shares of Boot Barn in a research note on Wednesday, September 11th. Robert W. Baird increased their target price on shares of Boot Barn from $132.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Craig Hallum increased their target price on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Citigroup increased their target price on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.10.

Boot Barn Stock Down 1.5 %

BOOT opened at $165.12 on Friday. Boot Barn Holdings, Inc. has a twelve month low of $66.73 and a twelve month high of $169.05. The company has a 50-day moving average price of $139.95 and a 200 day moving average price of $121.26. The company has a market cap of $5.02 billion, a PE ratio of 34.40 and a beta of 2.11.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. The firm had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. As a group, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.31 earnings per share for the current 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.