Boot Barn (NYSE:BOOT) Upgraded to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Boot Barn (NYSE:BOOT) from a hold rating to a buy rating in a report issued on Monday morning, Marketbeat reports. Jefferies Financial Group currently has $195.00 target price on the stock.

Several other equities research analysts have also recently issued reports on the company. BTIG Research reissued a “buy” rating and set a $235.00 target price on shares of Boot Barn in a research note on Thursday, February 5th. Piper Sandler raised their target price on Boot Barn from $229.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Stephens raised Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 target price for the company in a research note on Friday, February 6th. Zacks Research cut Boot Barn from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, The Goldman Sachs Group started coverage on Boot Barn in a research note on Thursday, December 11th. They set a “buy” rating and a $225.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.00.

Boot Barn Stock Performance

NYSE:BOOT opened at $148.62 on Monday. Boot Barn has a one year low of $86.17 and a one year high of $210.25. The stock has a market cap of $4.52 billion, a PE ratio of 20.87, a P/E/G ratio of 0.82 and a beta of 1.75. The stock has a 50 day moving average price of $174.97 and a 200 day moving average price of $182.19.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $2.79 EPS for the quarter, meeting the consensus estimate of $2.79. Boot Barn had a return on equity of 18.28% and a net margin of 10.10%.The firm had revenue of $705.64 million during the quarter, compared to analysts’ expectations of $700.71 million. During the same quarter last year, the firm earned $2.43 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Boot Barn has set its FY 2026 guidance at 7.250-7.350 EPS and its Q4 2026 guidance at 1.350-1.450 EPS. As a group, analysts predict that Boot Barn will post 5.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors have recently modified their holdings of BOOT. Royal Bank of Canada boosted its holdings in Boot Barn by 50.3% in the first quarter. Royal Bank of Canada now owns 34,676 shares of the company’s stock valued at $3,725,000 after purchasing an additional 11,598 shares during the period. AQR Capital Management LLC boosted its holdings in Boot Barn by 198.0% in the first quarter. AQR Capital Management LLC now owns 8,906 shares of the company’s stock valued at $957,000 after purchasing an additional 5,917 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Boot Barn by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,628 shares of the company’s stock valued at $1,894,000 after purchasing an additional 779 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Boot Barn by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 323,664 shares of the company’s stock valued at $34,771,000 after purchasing an additional 61,719 shares during the period. Finally, United Services Automobile Association purchased a new position in Boot Barn in the first quarter valued at $209,000.

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.