Boot Barn (NYSE:BOOT) Shares Gap Up on Better-Than-Expected Earnings

Boot Barn Holdings, Inc. (NYSE:BOOT) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $194.22, but opened at $205.31. Boot Barn shares last traded at $193.3350, with a volume of 268,623 shares.

The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. Boot Barn had a return on equity of 18.41% and a net margin of 10.05%.The firm had revenue of $505.40 million during the quarter, compared to analyst estimates of $493.70 million. During the same period in the previous year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Boot Barn has set its Q3 2026 guidance at 2.470-2.590 EPS. FY 2026 guidance at 6.750-7.150 EPS.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BOOT. Piper Sandler restated an “overweight” rating and issued a $220.00 price objective (up from $218.00) on shares of Boot Barn in a research note on Thursday. Jefferies Financial Group lowered shares of Boot Barn from a “buy” rating to a “hold” rating and cut their target price for the stock from $187.00 to $175.00 in a research report on Wednesday, July 23rd. UBS Group boosted their target price on shares of Boot Barn from $241.00 to $248.00 and gave the stock a “buy” rating in a research report on Thursday. BTIG Research boosted their price objective on Boot Barn from $218.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cowen reissued a “buy” rating on shares of Boot Barn in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its holdings in Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company’s stock valued at $30,000 after acquiring an additional 203 shares in the last quarter. KBC Group NV raised its holdings in Boot Barn by 21.8% in the 1st quarter. KBC Group NV now owns 1,489 shares of the company’s stock valued at $160,000 after acquiring an additional 267 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Boot Barn by 20.6% in the 1st quarter. First Horizon Advisors Inc. now owns 1,321 shares of the company’s stock valued at $142,000 after acquiring an additional 226 shares in the last quarter. Xponance Inc. raised its stake in shares of Boot Barn by 5.5% in the first quarter. Xponance Inc. now owns 2,292 shares of the company’s stock valued at $246,000 after purchasing an additional 120 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Boot Barn by 27.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 87,593 shares of the company’s stock valued at $9,410,000 after purchasing an additional 18,657 shares in the last quarter.

Boot Barn Price Performance

The business has a 50 day moving average of $179.41 and a 200 day moving average of $160.51. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.61.

Boot Barn Company Profile

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.