Phocas Financial Corp. Lowers Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Phocas Financial Corp. cut its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 76,787 shares of the company’s stock after selling 4,782 shares during the quarter. Boot Barn comprises about 0.0% of Phocas Financial Corp.’s investment portfolio, making the stock its 29th biggest holding. Phocas Financial Corp.’s holdings in Boot Barn were worth $12,845,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BOOT. UniSuper Management Pty Ltd purchased a new position in shares of Boot Barn in the 1st quarter worth about $695,000. Capital Research Global Investors acquired a new position in Boot Barn during the first quarter valued at approximately $32,779,000. Public Sector Pension Investment Board grew its stake in Boot Barn by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company’s stock worth $8,626,000 after buying an additional 4,785 shares during the period. Raymond James & Associates increased its position in shares of Boot Barn by 1.8% in the second quarter. Raymond James & Associates now owns 49,263 shares of the company’s stock worth $6,351,000 after acquiring an additional 875 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Boot Barn in the 2nd quarter valued at $554,000.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $134.06 on Tuesday. Boot Barn Holdings, Inc. has a 1-year low of $68.37 and a 1-year high of $169.83. The company’s fifty day moving average is $152.78 and its two-hundred day moving average is $135.09. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 26.92 and a beta of 2.16.

Boot Barn (NYSE:BOOT) last issued its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. Boot Barn’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $179.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. BTIG Research increased their price target on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. UBS Group lifted their price objective on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Citigroup reduced their target price on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Craig Hallum lowered shares of Boot Barn from a “buy” rating to a “hold” rating and lifted their price target for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.