USA Financial Formulas Makes New Investment in Boot Barn Holdings, Inc. (NYSE:BOOT)

USA Financial Formulas bought a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 548 shares of the company’s stock, valued at approximately $92,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Boot Barn by 111.1% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Boot Barn during the 2nd quarter worth about $64,000. 1620 Investment Advisors Inc. bought a new stake in Boot Barn during the 2nd quarter worth about $84,000. First Horizon Advisors Inc. increased its position in Boot Barn by 11.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock valued at $120,000 after acquiring an additional 94 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Boot Barn in the fourth quarter worth about $165,000.

Boot Barn Price Performance

Shares of Boot Barn stock opened at $159.91 on Friday. The company has a market capitalization of $4.86 billion, a P/E ratio of 33.31 and a beta of 2.12. Boot Barn Holdings, Inc. has a 1 year low of $66.73 and a 1 year high of $169.07. The business has a 50-day moving average of $146.69 and a two-hundred day moving average of $126.14.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data 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 company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $415.04 million. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. Boot Barn’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. On average, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Boot Barn from $140.00 to $167.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Citigroup boosted their target price on Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. raised their price target on Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. BTIG Research boosted their price objective on Boot Barn from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, UBS Group raised their target price on shares of Boot Barn from $125.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.00.

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.