Boot Barn (NYSE:BOOT) Given New $206.00 Price Target at Bank of America

Key Points

• Bank of America lowered its price target on Boot Barn from $224 to $206 but kept a buy rating, implying about 40.5% upside from the prior close.
• Boot Barn’s latest quarterly results topped expectations, with EPS of $1.45 and revenue of $538.75 million, while sales rose 18.7% year over year.
• The company also issued a bullish fiscal 2027 outlook, guiding for $8.21 to $8.64 EPS and about $2.6 billion in sales, reinforcing the view that growth can continue.

Boot Barn (NYSE:BOOT - Get Free Report) had its price target reduced by equities research analysts at Bank of America from $224.00 to $206.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 40.52% from the stock's previous close.

BOOT has been the subject of a number of other reports. Jefferies Financial Group raised Boot Barn from a "hold" rating to a "buy" rating and set a $195.00 price target for the company in a report on Monday, April 6th. BTIG Research reaffirmed a "buy" rating and set a $235.00 price target on shares of Boot Barn in a report on Friday. Robert W. Baird lowered their target price on Boot Barn from $244.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday. Citigroup reissued a "buy" rating on shares of Boot Barn in a research note on Monday, May 4th. Finally, Piper Sandler lowered their target price on Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research note on Friday. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Boot Barn has a consensus rating of "Moderate Buy" and an average target price of $230.83.

Boot Barn Trading Up 0.2%

BOOT stock traded up $0.24 during mid-day trading on Friday, hitting $146.60. The stock had a trading volume of 1,066,711 shares, compared to its average volume of 691,487. Boot Barn has a 1-year low of $133.18 and a 1-year high of $210.25. The company has a fifty day moving average of $159.66 and a 200 day moving average of $179.24. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.89 and a beta of 1.73.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.02. The firm had revenue of $538.75 million during the quarter, compared to the consensus estimate of $531.23 million. Boot Barn had a return on equity of 18.28% and a net margin of 10.10%.The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. As a group, sell-side analysts expect that Boot Barn will post 7.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOOT. Price T Rowe Associates Inc. MD lifted its holdings in Boot Barn by 83.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company's stock worth $194,725,000 after acquiring an additional 502,275 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Boot Barn by 2,547.7% during the third quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company's stock worth $78,086,000 after acquiring an additional 453,396 shares in the last quarter. Invesco Ltd. lifted its holdings in Boot Barn by 46.3% during the third quarter. Invesco Ltd. now owns 917,406 shares of the company's stock worth $152,033,000 after acquiring an additional 290,493 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Boot Barn by 132.4% during the third quarter. Principal Financial Group Inc. now owns 352,816 shares of the company's stock worth $58,469,000 after acquiring an additional 201,026 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in 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 in the last quarter.

Boot Barn News Summary

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

• Positive Sentiment: Boot Barn reported fiscal Q4 earnings and revenue that topped Wall Street expectations, with EPS of $1.45 versus $1.43 expected and revenue of $538.75 million versus $531.23 million anticipated. Revenue rose 18.7% year over year, underscoring continued demand. Boot Barn (BOOT) Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: The company gave a bullish fiscal 2027 outlook, guiding for $2.6 billion in sales and $8.21-$8.64 in EPS, which supports the view that growth can continue even after a strong year. Boot Barn outlines fiscal '27 outlook with $2.6B sales and $8.64 EPS targets as store expansion continues
• Positive Sentiment: Boot Barn’s Q1 sales beat estimates, and shares were reported higher after the beat, suggesting the market is rewarding the company’s operating momentum. Boot Barn’s NYSE: BOOT Q1 CY2026 Sales Beat Estimates
• Neutral Sentiment: Analysts remain constructive overall, with Robert W. Baird and BTIG reiterating positive ratings, though Baird trimmed its price target slightly to $225 from $244. Analyst note on Boot Barn
• Neutral Sentiment: News about new businesses at The Shoppes at Gateway appears more related to the retail center than to Boot Barn’s fundamentals, so it is likely a limited stock driver. These new businesses are coming to The Shoppes at Gateway
• Negative Sentiment: The only notable caution is that the stock remains well below its 50-day and 200-day moving averages, suggesting sentiment had been weak before the earnings update.

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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