Edgestream Partners L.P. Purchases 27,301 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Edgestream Partners L.P. raised its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 750.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,938 shares of the company’s stock after purchasing an additional 27,301 shares during the quarter. Edgestream Partners L.P. owned 0.10% of Boot Barn worth $5,175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BOOT. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Boot Barn by 20.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,758 shares of the company’s stock worth $963,000 after purchasing an additional 984 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Boot Barn in the third quarter worth about $3,343,000. Cynosure Group LLC purchased a new position in shares of Boot Barn during the 3rd quarter valued at about $376,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Boot Barn by 81.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 9,446 shares of the company’s stock worth $1,580,000 after purchasing an additional 4,242 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Boot Barn by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock worth $701,000 after purchasing an additional 83 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BOOT. Baird R W upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. BTIG Research boosted their price objective on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. UBS Group increased their target price on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and increased their target price for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. Finally, Piper Sandler reiterated an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boot Barn has an average rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Trading Up 0.7 %

Shares of Boot Barn stock opened at $137.14 on Friday. The stock has a 50 day moving average of $149.17 and a 200 day moving average of $136.68. Boot Barn Holdings, Inc. has a 12 month low of $68.37 and a 12 month high of $169.83. The firm has a market cap of $4.19 billion, a PE ratio of 27.54 and a beta of 2.16.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. As a group, equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal 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.