Stephens Boosts Boot Barn (NYSE:BOOT) Price Target to $207.00

Boot Barn (NYSE:BOOT) had its target price increased by investment analysts at Stephens from $196.00 to $207.00 in a note issued to investors on Monday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Stephens’ price target indicates a potential upside of 26.70% from the stock’s current price.

BOOT has been the subject of several other research reports. Piper Sandler lowered their price target on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Weiss Ratings upgraded Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Robert W. Baird set a $212.00 target price on Boot Barn in a research report on Thursday, July 30th. BTIG Research cut their price target on Boot Barn from $235.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Boot Barn has an average rating of “Buy” and an average target price of $219.55.

Boot Barn Trading Down 0.1%

Shares of Boot Barn stock opened at $163.38 on Monday. The stock’s fifty day moving average price is $162.47 and its 200-day moving average price is $166.81. The firm has a market cap of $4.95 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.05 and a beta of 1.71. Boot Barn has a 12 month low of $133.18 and a 12 month high of $210.25.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60. The company had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $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. Analysts forecast that Boot Barn will post 9.18 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Boot Barn during the 2nd quarter valued at approximately $840,629,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Boot Barn by 83.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock valued at $194,725,000 after buying an additional 502,275 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Boot Barn by 2,547.7% during the third quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock valued at $78,086,000 after buying an additional 453,396 shares during the last quarter. Bank of America Corp DE increased its position in shares of Boot Barn by 114.6% in the 1st quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock valued at $95,921,000 after acquiring an additional 349,985 shares during the period. Finally, Invesco Ltd. raised its stake in Boot Barn by 46.3% in the 3rd quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock worth $152,033,000 after acquiring an additional 290,493 shares during the last quarter.

About Boot Barn

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.