Boot Barn Holdings, Inc. (NYSE:BOOT) Stock Now Rated "Buy" by Wall Street Brokerages

Key Points

• Wall Street’s consensus rating is “Buy”: Of 13 analysts covering Boot Barn, 11 rate it buy, one hold, and one strong buy. The average 12-month price target is $219.55.
• Recent earnings exceeded expectations: Boot Barn reported quarterly EPS of $2.29 versus the $1.69 consensus estimate, while revenue reached $593.51 million and increased 17.7% year over year.
• The stock has pulled back significantly: Shares opened at $125.98, near the $120.64 52-week low and well below the $210.25 high, with a market capitalization of approximately $3.81 billion.

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) have been assigned a consensus recommendation of "Buy" from the thirteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $219.55.

Several equities research analysts have recently issued reports on BOOT shares. TD Cowen lowered their target price on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings lowered Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Zacks Research upgraded Boot Barn from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. BTIG Research reaffirmed a "buy" rating and issued a $215.00 price target on shares of Boot Barn in a report on Tuesday, September 15th. Finally, Stephens increased their price target on 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

Large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its position in Boot Barn by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,858 shares of the company's stock worth $962,000 after acquiring an additional 271 shares during the period. WINTON GROUP Ltd purchased a new position in Boot Barn during the second quarter valued at $468,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Boot Barn in the second quarter valued at about $46,000. Allworth Financial LP grew its position in shares of Boot Barn by 160.2% in the second quarter. Allworth Financial LP now owns 346 shares of the company's stock valued at $57,000 after purchasing an additional 213 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Boot Barn during the second quarter worth about $238,000.

Boot Barn Price Performance

NYSE:BOOT opened at $125.98 on Tuesday. The company has a 50 day moving average price of $149.71 and a 200-day moving average price of $156.51. Boot Barn has a 1-year low of $120.64 and a 1-year high of $210.25. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 0.79 and a beta of 1.70.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. On average, sell-side analysts anticipate that Boot Barn will post 9.18 earnings per share for the current fiscal year.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.

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