Boot Barn’s (BOOT) Buy Rating Reiterated at BTIG Research

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating restated by BTIG Research in a report issued on Friday,Benzinga reports. They currently have a $235.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 60.62% from the stock’s current price.

Several other brokerages also recently commented on BOOT. UBS Group increased their price objective on shares of Boot Barn from $267.00 to $270.00 and gave the company a “buy” rating in a research note on Monday. Stephens upgraded Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 price target for the company in a research note on Friday, February 6th. Weiss Ratings lowered Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 4th. Citigroup reiterated a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. Finally, Jefferies Financial Group upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Boot Barn presently has an average rating of “Moderate Buy” and a consensus target price of $233.27.

Boot Barn Stock Up 0.7%

Boot Barn stock opened at $146.31 on Friday. The stock has a market cap of $4.45 billion, a PE ratio of 20.55, a P/E/G ratio of 0.89 and a beta of 1.73. Boot Barn has a 12-month low of $133.18 and a 12-month high of $210.25. The business’s 50-day moving average price is $159.66 and its two-hundred day moving average price is $179.24.

Boot Barn (NYSE:BOOT) last posted its earnings results on Thursday, May 14th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.02. Boot Barn had a net margin of 10.10% and a return on equity of 18.28%. The firm had revenue of $538.75 million during the quarter, compared to analysts’ expectations of $531.23 million. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. As a group, analysts expect that Boot Barn will post 7.33 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Boot Barn by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 1,206,107 shares of the company’s stock valued at $212,842,000 after acquiring an additional 49,790 shares in the last quarter. State Street Corp grew its stake in Boot Barn by 0.6% in the 4th quarter. State Street Corp now owns 1,176,193 shares of the company’s stock valued at $207,563,000 after purchasing an additional 7,410 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Boot Barn by 83.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock valued at $194,725,000 after purchasing an additional 502,275 shares during the last quarter. Invesco Ltd. raised its stake in shares of Boot Barn by 15.7% during the 4th quarter. Invesco Ltd. now owns 1,061,668 shares of the company’s stock worth $187,353,000 after purchasing an additional 144,262 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Boot Barn by 38.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after buying an additional 200,971 shares during the period.

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.