Boot Barn's (BOOT) "Buy" Rating Reiterated at BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Boot Barn and set a $215 price target, implying approximately 50% upside from the reported $143.01 share price.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $219.55 from MarketBeat-tracked analysts.
• Boot Barn exceeded quarterly expectations, reporting $2.29 in earnings per share versus a $1.69 estimate and $593.51 million in revenue, up 17.7% year over year.

Boot Barn (NYSE:BOOT - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at BTIG Research in a note issued to investors on Tuesday, Benzinga reports. They presently have a $215.00 price target on the stock. BTIG Research's price objective would indicate a potential upside of 50.33% from the company's current price.

Several other equities research analysts also recently issued reports on BOOT. Stephens boosted their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. TD Cowen cut their target price on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. UBS Group set a $225.00 target price on shares of Boot Barn in a report on Wednesday, June 17th. Weiss Ratings cut shares of Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $219.55.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $143.01 on Tuesday. The firm has a market capitalization of $4.33 billion, a PE ratio of 18.10, a P/E/G ratio of 0.93 and a beta of 1.70. The business has a 50-day moving average of $155.98 and a two-hundred day moving average of $160.73. Boot Barn has a 12 month low of $133.18 and a 12 month high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.60. The business had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The company's revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. As a group, research analysts anticipate that Boot Barn will post 9.18 earnings per share for the current year.

Institutional Trading of Boot Barn

A number of hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in Boot Barn by 15,740.5% in the second quarter. California State Teachers Retirement System now owns 5,763,249 shares of the company's stock worth $946,729,000 after purchasing an additional 5,726,866 shares during the period. BlackRock Inc. acquired a new position in shares of Boot Barn during the second quarter valued at $840,629,000. Wellington Management Group LLP boosted its holdings in shares of Boot Barn by 12.2% during the second quarter. Wellington Management Group LLP now owns 773,749 shares of the company's stock valued at $127,104,000 after acquiring an additional 84,250 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Boot Barn by 38.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company's stock worth $127,642,000 after acquiring an additional 200,971 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Boot Barn by 114.6% during the first quarter. Bank of America Corp DE now owns 655,374 shares of the company's stock worth $95,921,000 after acquiring an additional 349,985 shares during the last quarter.

About Boot Barn

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.

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