Boot Barn Holdings, Inc. (BOOT) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts remain bullish on Boot Barn, with 13 buy ratings, one strong buy, and one hold among 15 firms. The average 12-month price target is $204.77.
• Several brokerages recently cut their price targets, including Citigroup to $180, UBS to $232, and TD Cowen to $160, while maintaining buy ratings.
• Boot Barn’s latest quarter exceeded expectations, reporting $2.29 in EPS versus the $1.69 consensus and revenue of $593.5 million, up 17.7% year over year. The stock opened at $115.27, near its one-year low of $110.53.

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) have earned an average recommendation of "Buy" from the fifteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $204.77.

BOOT has been the topic of a number of recent analyst reports. Citigroup lowered their price objective on Boot Barn from $205.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, October 13th. UBS Group dropped their price objective on Boot Barn from $272.00 to $232.00 and set a "buy" rating for the company in a research note on Thursday. Weiss Ratings upgraded Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. TD Cowen decreased their price target on shares of Boot Barn from $190.00 to $160.00 and set a "buy" rating on the stock in a report on Friday. Finally, BTIG Research reissued a "buy" rating and set a $215.00 price objective on shares of Boot Barn in a report on Tuesday, September 15th.

Boot Barn Trading Down 3.8%

Boot Barn stock opened at $115.27 on Friday. The firm's 50 day simple moving average is $135.25 and its 200 day simple moving average is $151.92. The firm has a market capitalization of $3.49 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.77 and a beta of 1.76. Boot Barn has a 1-year low of $110.53 and a 1-year high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business had revenue of $593.51 million for the quarter, compared to analysts' expectations of $583.15 million. During the same period in the prior year, the company posted $1.74 EPS. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. 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. Research analysts forecast that Boot Barn will post 9.19 earnings per share for the current year.

Institutional Trading of Boot Barn

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Boot Barn during the 2nd quarter valued at $840,629,000. Congress Asset Management Co. boosted its holdings in shares of Boot Barn by 0.9% during the 3rd quarter. Congress Asset Management Co. now owns 804,659 shares of the company's stock valued at $96,937,000 after buying an additional 7,040 shares in the last quarter. Wellington Management Group LLP boosted its stake in Boot Barn by 12.2% during the second quarter. Wellington Management Group LLP now owns 773,749 shares of the company's stock worth $127,104,000 after acquiring an additional 84,250 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Boot Barn by 114.6% in the 1st quarter. Bank of America Corp DE now owns 655,374 shares of the company's stock worth $95,921,000 after buying an additional 349,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Boot Barn by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 645,342 shares of the company's stock worth $94,440,000 after acquiring an additional 9,816 shares during the last quarter.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and work-related apparel, footwear and accessories. The company sells products including cowboy boots, work boots, jeans, shirts, hats, outerwear, belts and other accessories from a range of national and private-label brands.

Boot Barn serves customers through a network of retail stores across the United States, as well as through its e-commerce platform. Its merchandise is marketed to Western lifestyle customers, workers who need durable clothing and footwear, and consumers participating in activities such as rodeo, riding and outdoor recreation.

The company traces its beginnings to 1978 and is headquartered in Irvine, California.

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