Boot Barn (NYSE:BOOT) Given Buy Rating at BTIG Research

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating restated by BTIG Research in a report released on Monday,Benzinga reports. They currently have a $235.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 56.63% from the company’s previous close.

A number of other equities analysts have also recently weighed in on BOOT. UBS Group set a $225.00 price objective on Boot Barn in a report on Wednesday, June 17th. Jefferies Financial Group raised Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Monday, April 6th. Piper Sandler reduced their price target on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Boot Barn in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and a consensus target price of $226.92.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $150.04 on Monday. The firm has a market capitalization of $4.55 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.05 and a beta of 1.69. Boot Barn has a 52-week low of $133.18 and a 52-week high of $210.25. The firm has a fifty day moving average of $162.04 and a 200 day moving average of $169.27.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Thursday, May 14th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.02. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.The business had revenue of $538.75 million for the quarter, compared to the consensus estimate of $531.43 million. During the same quarter last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. 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. On average, sell-side analysts forecast that Boot Barn will post 8.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Boot Barn by 11.4% in the 4th quarter. Principal Financial Group Inc. now owns 393,098 shares of the company’s stock worth $69,370,000 after purchasing an additional 40,282 shares during the period. UBS Group AG boosted its stake in shares of Boot Barn by 16.4% during the fourth quarter. UBS Group AG now owns 172,380 shares of the company’s stock valued at $30,420,000 after purchasing an additional 24,229 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of Boot Barn in the fourth quarter worth approximately $2,644,000. Comerica Bank grew its holdings in shares of Boot Barn by 71.5% in the fourth quarter. Comerica Bank now owns 34,439 shares of the company’s stock worth $6,077,000 after purchasing an additional 14,354 shares during the last quarter. Finally, Burney Co. bought a new position in shares of Boot Barn in the fourth quarter worth approximately $3,782,000.

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.