Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view of Boot Barn: Thirteen brokerages give the stock a consensus “Buy” rating, including 11 buys and one strong buy. The average 12-month price target is $222.27, above its reported opening price of $163.38.
• Quarterly results exceeded expectations: Boot Barn reported earnings of $2.29 per share versus the $1.69 consensus estimate, while revenue rose 17.7% year over year to $593.51 million, also topping forecasts.
• Several major institutional investors increased or initiated positions, including BlackRock, Wellington Management, State Street, T. Rowe Price and Invesco, indicating continued institutional interest in the retailer.

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) has received a consensus recommendation of "Buy" from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $222.2727.

A number of equities research analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Boot Barn from $224.00 to $206.00 and set a "buy" rating for the company in a report on Friday, May 15th. Zacks Research raised Boot Barn from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Piper Sandler reduced their target price on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a report on Friday, May 15th. Robert W. Baird set a $212.00 price target on Boot Barn in a research report on Thursday, July 30th. Finally, UBS Group set a $225.00 price objective on shares of Boot Barn in a research report on Wednesday, June 17th.

Boot Barn Stock Performance

Shares of BOOT opened at $163.38 on Monday. The stock has a 50 day moving average price of $162.47 and a 200 day moving average price of $166.81. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.05 and a beta of 1.71. Boot Barn has a one year low of $133.18 and a one year high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. 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. On average, analysts predict that Boot Barn will post 9.18 earnings per share for the current year.

Hedge Funds Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Boot Barn in the 2nd quarter valued at $840,629,000. Wellington Management Group LLP raised its stake in Boot Barn by 4.3% during the 4th quarter. Wellington Management Group LLP now owns 1,206,107 shares of the company's stock worth $212,842,000 after acquiring an additional 49,790 shares in the last quarter. State Street Corp lifted its position in Boot Barn by 0.6% in the fourth quarter. State Street Corp now owns 1,176,193 shares of the company's stock valued at $207,563,000 after acquiring an additional 7,410 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Boot Barn by 83.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company's stock valued at $194,725,000 after acquiring an additional 502,275 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Boot Barn by 15.7% in the fourth quarter. Invesco Ltd. now owns 1,061,668 shares of the company's stock valued at $187,353,000 after acquiring an additional 144,262 shares in the last quarter.

About Boot Barn

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.

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