BTIG Research Reiterates Buy Rating for Boot Barn (NYSE:BOOT)

Key Points

• BTIG Research reiterated its Buy rating on Boot Barn and maintained a $235 price target, implying 56.63% upside from the prior close.
• Analyst sentiment remains favorable, with 12 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and average price target of $226.92.
• Boot Barn exceeded quarterly expectations, reporting $1.45 EPS and $538.75 million in revenue, with revenue up 18.7% year over year; management issued fiscal 2027 EPS guidance of $8.21–$8.64.

Boot Barn (NYSE:BOOT - Get Free Report)'s stock had its "buy" rating reiterated by BTIG Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $235.00 target price on the stock. BTIG Research's target price would indicate a potential upside of 56.63% from the stock's previous close.

BOOT has been the topic of a number of other research reports. Jefferies Financial Group raised shares of Boot Barn from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a report on Monday, April 6th. Piper Sandler cut their price target on Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a report on Friday, May 15th. Bank of America decreased their price objective on Boot Barn from $224.00 to $206.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Weiss Ratings cut Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 18th. Finally, Robert W. Baird cut 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, May 15th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.92.

Boot Barn Stock Up 0.0%

NYSE BOOT opened at $150.04 on Monday. The company has a market cap of $4.55 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.05 and a beta of 1.69. Boot Barn has a 52 week low of $133.18 and a 52 week high of $210.25. The firm's 50-day simple moving average is $162.04 and its two-hundred day simple moving average is $169.27.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $1.45 earnings per share for the quarter, topping 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 $531.43 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The company's revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. 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, equities research analysts anticipate that Boot Barn will post 8.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BOOT. IFP Advisors Inc boosted its stake in Boot Barn by 7.2% during the fourth quarter. IFP Advisors Inc now owns 942 shares of the company's stock valued at $166,000 after buying an additional 63 shares during the period. Cynosure Group LLC raised its holdings in shares of Boot Barn by 3.3% in the 4th quarter. Cynosure Group LLC now owns 2,435 shares of the company's stock valued at $430,000 after acquiring an additional 78 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Boot Barn by 20.7% in the 4th quarter. Farther Finance Advisors LLC now owns 496 shares of the company's stock valued at $88,000 after acquiring an additional 85 shares in the last quarter. State of Wisconsin Investment Board boosted its position in shares of Boot Barn by 0.3% during the 4th quarter. State of Wisconsin Investment Board now owns 33,374 shares of the company's stock valued at $5,890,000 after acquiring an additional 89 shares during the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Boot Barn by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 4,262 shares of the company's stock valued at $648,000 after acquiring an additional 93 shares during the last quarter.

Boot Barn Company Profile

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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