Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 80.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,647 shares of the company’s stock after buying an additional 4,308 shares during the quarter. Lazard Asset Management LLC’s holdings in Boot Barn were worth $1,464,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Boot Barn by 1.4% during the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after buying an additional 82 shares during the period. Cetera Investment Advisers lifted its stake in shares of Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock valued at $1,242,000 after buying an additional 83 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock valued at $208,000 after buying an additional 97 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Boot Barn by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after buying an additional 98 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Boot Barn by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after buying an additional 100 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America upped their price target on shares of Boot Barn from $160.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp dropped their price target on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. Stephens assumed coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 price target for the company. Finally, Citigroup upped their price target on shares of Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.62.

Boot Barn Stock Up 1.3%

Boot Barn stock opened at $156.99 on Monday. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $176.64. The firm has a fifty day moving average of $107.05 and a 200-day moving average of $130.08. The firm has a market capitalization of $4.80 billion, a P/E ratio of 28.03, a PEG ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The business had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. Boot Barn’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 EPS. On average, research analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its board has authorized a share buyback plan on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.