Boot Barn (NYSE:BOOT) Announces FY 2027 Earnings Guidance

Key Points

• Boot Barn issued FY 2027 EPS guidance of $8.72–$9.00, below the $9.02 consensus, while its $2.6 billion revenue outlook matched expectations. Q3 EPS guidance of $3.03–$3.19 also trails analyst estimates.
• The company’s fiscal Q2 results exceeded expectations, with revenue rising 15.1% year over year to $581.8 million and EPS increasing to $1.73 from $1.37. Boot Barn also authorized $400 million in additional share repurchases and raised its store-opening target to about 80 locations.
• Analysts remain broadly positive, with a “Moderate Buy” consensus, but several firms lowered price targets and Zacks downgraded the stock to “Hold” following the cautious outlook.

Boot Barn (NYSE:BOOT - Get Free Report) issued an update on its FY 2027 earnings guidance on Friday. The company provided earnings per share guidance of 8.720-9.000 for the period, compared to the consensus earnings per share estimate of 9.020. The company issued revenue guidance of $2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Boot Barn also updated its Q3 2027 guidance to 3.030-3.190 EPS.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BOOT. Piper Sandler restated an "overweight" rating and issued a $187.00 target price (down from $226.00) on shares of Boot Barn in a research report on Thursday. Weiss Ratings cut Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, October 23rd. Zacks Research downgraded Boot Barn from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Citigroup dropped their price objective on shares of Boot Barn from $205.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, October 13th. Finally, BTIG Research reduced their target price on shares of Boot Barn from $215.00 to $195.00 and set a "buy" rating on the stock in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Boot Barn Trading Up 15.0%

Shares of NYSE BOOT opened at $130.35 on Friday. Boot Barn has a 1-year low of $110.53 and a 1-year high of $210.25. The firm has a market capitalization of $3.95 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.74 and a beta of 1.76. The firm's 50-day moving average price is $131.72 and its 200-day moving average price is $158.68.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.10. Boot Barn had a net margin of 10.45% and a return on equity of 19.04%. The business had revenue of $581.81 million during the quarter, compared to the consensus estimate of $580.80 million. During the same quarter last year, the firm posted $1.37 EPS. Boot Barn's revenue was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Boot Barn will post 9.06 EPS for the current year.

Boot Barn News Summary

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q2 revenue of approximately $581.8 million, up 15.1% year over year, while diluted EPS rose 26.3% to $1.73, beating the $1.63 consensus estimate. Gross profit, operating income and operating cash flow also increased, reflecting margin gains and improved profitability. Boot Barn fiscal Q2 results
• Positive Sentiment: The company authorized an additional $400 million for share repurchases, which could support per-share earnings and signal management confidence in the long-term outlook. Boot Barn also raised its full-year store-opening target to approximately 80 locations and plans to continue expanding its retail footprint. Boot Barn share repurchase authorization
• Neutral Sentiment: Boot Barn’s commercial business, Boot Barn Workforce, generated about $100 million in sales during the previous fiscal year, providing an additional growth channel beyond consumer retail. Boot Barn long-term investor takeaways
• Negative Sentiment: Management’s fiscal Q3 guidance calls for EPS of $3.03–$3.19 and revenue of $785 million–$802 million, below consensus estimates of $3.42 and $816.2 million, respectively. Full-year fiscal 2027 EPS guidance of $8.72–$9.00 also trails the $9.02 consensus, although the $2.6 billion revenue outlook is in line with expectations.
• Negative Sentiment: The combination of a sales shortfall and lower outlook has prompted cautious analyst reactions. Robert W. Baird reduced its price target from $160 to $145 while retaining an “outperform” rating, and Zacks Research downgraded the stock from “strong buy” to “hold.” Baird Boot Barn rating

About Boot Barn

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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