Boot Barn (NYSE:BOOT) Reaches New 1-Year Low - Should You Sell?

Key Points

• Boot Barn shares hit a new 52-week low, trading as low as $118.79 versus a prior close of $121.60. The stock is below both its 50-day and 200-day moving averages.
• Despite the decline, Wall Street remains broadly positive: analysts assign the stock an average “Buy” rating and a $215.58 average price target, substantially above its current level.
• Boot Barn recently exceeded earnings expectations, reporting $2.29 in quarterly EPS versus a $1.69 consensus estimate and revenue of $593.51 million, up 17.7% year over year.

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report)'s share price reached a new 52-week low during trading on Friday. The company traded as low as $118.79 and last traded at $119.3850, with a volume of 85118 shares. The stock had previously closed at $121.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BOOT shares. Craig Hallum lowered their target price on Boot Barn from $235.00 to $224.00 and set a "buy" rating for the company in a report on Tuesday, September 29th. BTIG Research reaffirmed a "buy" rating and set a $215.00 target price on shares of Boot Barn in a research report on Tuesday, September 15th. TD Cowen reduced their price objective on Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Stephens lifted their target price on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Finally, Zacks Research upgraded Boot Barn from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $215.58.

Boot Barn Stock Performance

The stock has a fifty day moving average of $144.92 and a 200 day moving average of $154.26. The company has a market capitalization of $3.63 billion, a P/E ratio of 15.16, a PEG ratio of 0.79 and a beta of 1.76.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BOOT. GAMMA Investing LLC lifted its position in shares of Boot Barn by 8.7% in the third quarter. GAMMA Investing LLC now owns 1,578 shares of the company's stock valued at $190,000 after acquiring an additional 126 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Boot Barn by 94.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 315 shares of the company's stock worth $38,000 after buying an additional 153 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Boot Barn by 85.8% during the third quarter. CoreCap Advisors LLC now owns 223 shares of the company's stock worth $27,000 after buying an additional 103 shares during the period. Congress Asset Management Co. increased its holdings in Boot Barn by 0.9% in the third 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 during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Boot Barn in the 3rd quarter valued at $114,000.

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 for men, women and children, including western boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and other lifestyle merchandise. Its assortment includes national brands as well as exclusive and private-label offerings.

Boot Barn serves customers through a network of retail stores across the United States and through its e-commerce platforms.

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