Boot Barn (NYSE:BOOT) Reaches New 52-Week High - Here's What Happened

Key Points

• Boot Barn's share price reached a new 52-week high of $185.85, reflecting strong trading activity with 20,399 shares exchanged.
• Bank of America raised its price target for Boot Barn from $160.00 to $173.00 while Jefferies downgraded the stock from "buy" to "hold" with a new target of $175.00.
• Boot Barn reported a 19.1% increase in quarterly revenue year-over-year, achieving $504.07 million, and provided strong earnings guidance for FY 2026.

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $185.85 and last traded at $183.04, with a volume of 20399 shares trading hands. The stock had previously closed at $181.87.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BOOT. Bank of America boosted their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and cut their target price for the company from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Robert W. Baird raised their price target on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. BTIG Research lifted their price objective on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Citigroup boosted their price objective on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $182.54.

Boot Barn Trading Down 0.5%

The firm's fifty day simple moving average is $168.65 and its two-hundred day simple moving average is $140.31. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.55 by $0.19. Boot Barn had a net margin of 9.81% and a return on equity of 17.73%. The firm had revenue of $504.07 million for the quarter, compared to analyst estimates of $489.49 million. During the same period in the prior year, the business posted $1.26 EPS. The business's revenue for the quarter was up 19.1% compared to the same quarter last year. Boot Barn has set its Q2 2026 guidance at 1.190-1.270 EPS. FY 2026 guidance at 5.800-6.700 EPS. As a group, analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Boot Barn

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Boot Barn by 10.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,511 shares of the company's stock valued at $3,418,000 after purchasing an additional 2,146 shares during the last quarter. Northern Trust Corp boosted its stake in Boot Barn by 20.8% during the 4th quarter. Northern Trust Corp now owns 369,365 shares of the company's stock worth $56,077,000 after purchasing an additional 63,536 shares during the period. Comerica Bank boosted its stake in Boot Barn by 3.4% during the 4th quarter. Comerica Bank now owns 24,850 shares of the company's stock worth $3,773,000 after purchasing an additional 809 shares during the period. Algert Global LLC boosted its stake in Boot Barn by 68.6% during the 4th quarter. Algert Global LLC now owns 38,780 shares of the company's stock worth $5,888,000 after purchasing an additional 15,779 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Boot Barn by 17.2% during the fourth quarter. BNP Paribas Financial Markets now owns 33,517 shares of the company's stock worth $5,089,000 after acquiring an additional 4,925 shares during the period.

Boot Barn Company Profile

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.

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