Boot Barn Holdings, Inc. (NYSE:BOOT) Given Average Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish view: Thirteen research firms give Boot Barn an average “Buy” rating, with 11 buys, one hold and one strong buy. The average 12-month price target is approximately $219.55.
• Quarterly results exceeded expectations: Boot Barn reported adjusted EPS of $2.29 versus the $1.69 consensus estimate, while revenue reached $593.51 million and rose 17.7% year over year.
• Institutional interest increased: Several major investors added to their positions during the first quarter, including Royal Bank of Canada, AQR Capital Management and Goldman Sachs. The stock recently opened at $147.19, well below its 52-week high of $210.25.

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) has been given a consensus recommendation of "Buy" by the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $219.5455.

A number of analysts recently weighed in on BOOT shares. UBS Group set a $225.00 price target on shares of Boot Barn in a research report on Wednesday, June 17th. Bank of America decreased 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. Robert W. Baird set a $212.00 target price on shares of Boot Barn in a research note on Thursday, July 30th. Piper Sandler cut 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. Finally, Stephens lifted their price target on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Boot Barn by 50.3% during the first quarter. Royal Bank of Canada now owns 34,676 shares of the company's stock worth $3,725,000 after purchasing an additional 11,598 shares during the period. AQR Capital Management LLC grew its position in shares of Boot Barn by 198.0% in the 1st quarter. AQR Capital Management LLC now owns 8,906 shares of the company's stock valued at $957,000 after purchasing an additional 5,917 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Boot Barn by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,628 shares of the company's stock worth $1,894,000 after purchasing an additional 779 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Boot Barn by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,664 shares of the company's stock worth $34,771,000 after purchasing an additional 61,719 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in Boot Barn during the 1st quarter worth approximately $209,000.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $147.19 on Friday. The firm has a fifty day moving average of $158.17 and a two-hundred day moving average of $163.08. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 0.96 and a beta of 1.70. Boot Barn has a 52 week low of $133.18 and a 52 week high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.60. The business had revenue of $593.51 million during the quarter, compared to analysts' expectations of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The firm's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. As a group, research analysts forecast that Boot Barn will post 9.18 EPS for the current fiscal year.

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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