Boot Barn (NYSE:BOOT) Stock Gets Downgrade from Zacks Research

Key Points

• Zacks Research downgraded Boot Barn from “strong buy” to “hold,” though the broader analyst consensus remains “Moderate Buy,” with 13 Buy ratings, two Holds and an average price target of $204.77.
• Boot Barn reported a quarterly earnings beat, delivering $1.73 in EPS versus the $1.63 estimate, while revenue rose 15.1% year over year to $581.81 million.
• Despite strong quarterly results and a $400 million share-repurchase authorization, the company’s reduced fiscal-year outlook is contributing to investor caution; shares opened at $113.32, near their 12-month low.

Boot Barn (NYSE:BOOT - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday, Zacks reports.

Several other brokerages also recently weighed in on BOOT. Stephens boosted their price objective on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Citigroup cut their target price on shares of Boot Barn from $205.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, October 13th. Weiss Ratings cut shares of Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, October 23rd. Craig Hallum decreased their target price on shares of Boot Barn from $235.00 to $224.00 and set a "buy" rating on the stock in a research note on Tuesday, September 29th. Finally, Needham & Company LLC started coverage on shares of Boot Barn in a report on Friday, October 16th. They set a "buy" rating and a $150.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $204.77.

Boot Barn Trading Up 1.5%

Shares of Boot Barn stock opened at $113.32 on Tuesday. The company's 50-day moving average price is $132.49 and its 200-day moving average price is $159.01. Boot Barn has a 12-month low of $110.53 and a 12-month high of $210.25. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.74 and a beta of 1.76.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.63 by $0.10. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company had revenue of $581.81 million during the quarter, compared to analysts' expectations of $580.80 million. During the same quarter in the previous year, the company earned $1.37 earnings per share. Boot Barn's revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Boot Barn will post 9.19 earnings per share for the current year.

Institutional Trading of Boot Barn

A number of institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Boot Barn in the 2nd quarter valued at about $33,000. CoreCap Advisors LLC boosted its holdings in Boot Barn by 85.8% in the 3rd quarter. CoreCap Advisors LLC now owns 223 shares of the company's stock worth $27,000 after buying an additional 103 shares during the last quarter. Pension & Wealth Management Advisors Inc. acquired a new stake in Boot Barn in the 3rd quarter worth about $27,000. Signaturefd LLC increased its stake in Boot Barn by 183.3% during the 3rd quarter. Signaturefd LLC now owns 255 shares of the company's stock worth $31,000 after buying an additional 165 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Boot Barn during the 2nd quarter worth approximately $46,000.

Trending Headlines about Boot Barn

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn earned $1.73 per diluted share, exceeding the $1.63 analyst consensus and rising 26.3% from $1.37 a year earlier. Revenue increased 15.1% year over year to $581.8 million, slightly above expectations. Boot Barn Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Profitability and cash generation improved: gross profit rose 17.6% to $216.5 million, operating profit reached $70.2 million, and operating cash flow grew 55% to $39.9 million. These results suggest the company is benefiting from sales growth and operating leverage. Boot Barn Q2 2027 Earnings
• Positive Sentiment: The board authorized an additional $400 million for share repurchases, which could support per-share earnings and signal management’s confidence in the valuation after the stock’s recent decline. Boot Barn Announces Q2 Results and Repurchase Authorization
• Neutral Sentiment: Management’s earnings call focused investor attention on store expansion, workwear demand, margins and the company’s updated fiscal-year plans. The market is weighing strong current performance against more cautious forward expectations. Boot Barn Q2 2027 Earnings Call Transcript
• Negative Sentiment: Boot Barn cut its fiscal-year outlook despite the quarterly beat. Lower projected revenue or earnings increases uncertainty over the pace of demand and likely explains why investors remain cautious. Boot Barn Cuts Fiscal-Year Outlook

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and work-related apparel, footwear and accessories. The company sells products including cowboy boots, work boots, jeans, shirts, hats, outerwear, belts and other accessories from a range of national and private-label brands.

Boot Barn serves customers through a network of retail stores across the United States, as well as through its e-commerce platform. Its merchandise is marketed to Western lifestyle customers, workers who need durable clothing and footwear, and consumers participating in activities such as rodeo, riding and outdoor recreation.

The company traces its beginnings to 1978 and is headquartered in Irvine, California.

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