Acorn Financial Advisory Services Inc. ADV Has $1.56 Million Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Acorn Financial Advisory Services Inc. ADV trimmed its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,309 shares of the company’s stock after selling 258 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Boot Barn were worth $1,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. boosted its holdings in shares of Boot Barn by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock worth $51,918,000 after purchasing an additional 124,060 shares during the period. Capital Research Global Investors acquired a new stake in Boot Barn in the first quarter valued at approximately $32,779,000. Janus Henderson Group PLC lifted its stake in Boot Barn by 1,212.4% in the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after acquiring an additional 263,444 shares during the last quarter. Summit Creek Advisors LLC lifted its stake in Boot Barn by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 262,262 shares of the company’s stock valued at $24,954,000 after acquiring an additional 1,789 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Boot Barn by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 259,885 shares of the company’s stock valued at $33,507,000 after acquiring an additional 9,126 shares during the last quarter.

Boot Barn Price Performance

NYSE:BOOT traded up $0.68 during trading hours on Friday, reaching $135.14. 718,839 shares of the stock were exchanged, compared to its average volume of 770,722. The stock has a market cap of $4.12 billion, a PE ratio of 27.13 and a beta of 2.16. Boot Barn Holdings, Inc. has a twelve month low of $68.37 and a twelve month high of $169.83. The firm has a 50 day moving average of $152.96 and a 200 day moving average of $133.53.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter in the prior year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities research analysts anticipate that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BOOT. BTIG Research lifted their target price on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Boot Barn from $160.00 to $181.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Citigroup dropped their target price 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. Piper Sandler reaffirmed an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. Finally, UBS Group boosted their price target on shares of Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.