Boot Barn (NYSE:BOOT) Sets New 1-Year Low - Time to Sell?

Key Points

• Boot Barn shares fell 4.2% to a new 52-week low of $110.53, trading well below their 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a consensus “Buy” rating with an average price target of $211.25, although Citigroup and Robert W. Baird recently lowered their targets.
• The company reported strong quarterly results, with EPS of $2.29 versus the $1.69 estimate and revenue up 17.7% year over year to $593.51 million.

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $110.53 and last traded at $112.6320, with a volume of 991,345 shares changing hands. The stock had previously closed at $117.57.

Analyst Ratings Changes

A number of brokerages have issued reports on BOOT. Citigroup cut their target price on Boot Barn from $205.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday. Stephens boosted their price target on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Zacks Research raised shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Finally, Robert W. Baird cut their price objective on shares of Boot Barn from $212.00 to $160.00 and set an "outperform" rating for the company in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $211.25.

Boot Barn Trading Down 4.2%

The firm's fifty day moving average price is $141.66 and its 200 day moving average price is $153.15. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.76 and a beta of 1.76.

Boot Barn (NYSE:BOOT - Get Free Report) last released 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 the consensus estimate of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%. Boot Barn's revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. 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, analysts forecast that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Several hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Boot Barn in the second quarter valued at $33,000. CoreCap Advisors LLC boosted its stake in shares of Boot Barn by 85.8% during the 3rd quarter. CoreCap Advisors LLC now owns 223 shares of the company's stock valued at $27,000 after buying an additional 103 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Boot Barn during the 2nd quarter valued at $46,000. Quantbot Technologies LP acquired a new position in shares of Boot Barn in the second quarter worth $46,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Boot Barn by 94.4% during the third quarter. Farther Finance Advisors LLC now owns 315 shares of the company's stock worth $38,000 after acquiring an additional 153 shares in 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 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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