Robert W. Baird Issues Pessimistic Forecast for Boot Barn (NYSE:BOOT) Stock Price

Boot Barn (NYSE:BOOT) had its price objective dropped by investment analysts at Robert W. Baird from $244.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 53.78% from the stock’s previous close.

A number of other research firms have also commented on BOOT. Jefferies Financial Group upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research note on Monday, April 6th. Citigroup restated a “buy” rating on shares of Boot Barn in a research note on Monday, May 4th. Weiss Ratings lowered Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 4th. UBS Group boosted their target price on Boot Barn from $267.00 to $270.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Sandler boosted their target price on Boot Barn from $229.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.27.

Boot Barn Stock Up 0.7%

BOOT opened at $146.31 on Friday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.73. Boot Barn has a 52 week low of $133.18 and a 52 week high of $210.25. The business’s 50 day moving average is $159.66 and its two-hundred day moving average is $179.24.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Thursday, May 14th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.02. The company had revenue of $538.75 million for the quarter, compared to analyst estimates of $531.23 million. Boot Barn had a net margin of 10.10% and a return on equity of 18.28%. Boot Barn’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. 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. Equities analysts expect that Boot Barn will post 7.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Boot Barn by 132.4% during the third quarter. Principal Financial Group Inc. now owns 352,816 shares of the company’s stock worth $58,469,000 after acquiring an additional 201,026 shares during the period. Federated Hermes Inc. acquired a new position in Boot Barn during the third quarter worth $13,407,000. Alliance Wealth Advisors LLC UT acquired a new position in Boot Barn during the third quarter worth $607,000. GatePass Capital LLC acquired a new position in Boot Barn during the third quarter worth $1,662,000. Finally, Fieldview Capital Management LLC grew its holdings in Boot Barn by 1,197.6% during the third quarter. Fieldview Capital Management LLC now owns 17,634 shares of the company’s stock worth $2,922,000 after acquiring an additional 16,275 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.