Boot Barn (NYSE:BOOT) Shares Down 6.6% – Here’s Why

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) traded down 6.6% on Tuesday . The company traded as low as $133.36 and last traded at $133.4650. 221,391 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 688,948 shares. The stock had previously closed at $142.84.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stephens raised their price target on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. BTIG Research restated a “buy” rating and issued a $215.00 price objective on shares of Boot Barn in a report on Tuesday. Zacks Research raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. UBS Group set a $225.00 price target on shares of Boot Barn in a research note on Wednesday, June 17th. Finally, TD Cowen lowered their price objective on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $219.55.

Boot Barn Price Performance

The stock has a market cap of $3.87 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.93 and a beta of 1.70. The firm’s 50 day moving average price is $155.98 and its 200-day moving average price is $160.73.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.60. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The business had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. During the same quarter last year, the company earned $1.74 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. 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 expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in Boot Barn by 7.2% during the fourth quarter. IFP Advisors Inc now owns 942 shares of the company’s stock valued at $166,000 after buying an additional 63 shares during the period. OLD National Bancorp IN raised its position in Boot Barn by 8.7% in the first quarter. OLD National Bancorp IN now owns 1,556 shares of the company’s stock worth $228,000 after acquiring an additional 125 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Boot Barn by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company’s stock valued at $738,000 after acquiring an additional 131 shares during the period. ProShare Advisors LLC increased its stake in shares of Boot Barn by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 5,972 shares of the company’s stock worth $1,054,000 after purchasing an additional 175 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Boot Barn by 21.3% in the 1st quarter. KBC Group NV now owns 1,064 shares of the company’s stock worth $156,000 after purchasing an additional 187 shares in the last quarter.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.