Brokerages Set Boot Barn Holdings, Inc. (NYSE:BOOT) Price Target at $226.92

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $226.9167.

A number of equities research analysts recently weighed in on the company. Bank of America dropped their price objective on Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. BTIG Research restated a “buy” rating and issued a $235.00 price target on shares of Boot Barn in a report on Friday, May 15th. UBS Group set a $225.00 price objective on shares of Boot Barn in a research report on Wednesday, June 17th. Finally, Piper Sandler reduced their price objective on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, May 15th.

Boot Barn Stock Down 0.5%

Shares of NYSE:BOOT opened at $152.96 on Thursday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69. Boot Barn has a 52 week low of $133.18 and a 52 week high of $210.25. The firm has a 50 day moving average of $161.80 and a 200 day moving average of $170.50.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.02. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.The business had revenue of $538.75 million for the quarter, compared to analysts’ expectations of $531.43 million. During the same quarter last year, the firm earned $1.22 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. 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. On average, sell-side analysts expect that Boot Barn will post 8.56 EPS for the current year.

Hedge Funds Weigh In On Boot Barn

A number of large investors have recently made changes to their positions in BOOT. Price T Rowe Associates Inc. MD raised its stake in Boot Barn by 83.6% in 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. boosted its holdings in Boot Barn by 2,547.7% in the third quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock worth $78,086,000 after acquiring an additional 453,396 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Boot Barn by 114.6% during the first quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock worth $95,921,000 after acquiring an additional 349,985 shares during the last quarter. Invesco Ltd. grew its stake in shares of Boot Barn by 46.3% during the third 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. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Boot Barn by 38.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after acquiring an additional 200,971 shares in 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.