Boot Barn (NYSE:BOOT) Receives “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Boot Barn (NYSE:BOOT) in a report released on Monday morning,Benzinga reports. BTIG Research currently has a $235.00 target price on the stock.

A number of other research analysts have also issued reports on BOOT. Citigroup restated a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. Piper Sandler dropped 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. UBS Group set a $225.00 price target on Boot Barn in a research note on Wednesday, June 17th. Weiss Ratings downgraded Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group upgraded 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. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.92.

Boot Barn Stock Performance

BOOT opened at $155.70 on Monday. The stock has a fifty day moving average of $162.34 and a 200-day moving average of $168.99. The company has a market capitalization of $4.72 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.05 and a beta of 1.69. Boot Barn has a fifty-two week low of $133.18 and a fifty-two week high of $210.25.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Thursday, May 14th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The business had revenue of $538.75 million for the quarter, compared to the consensus estimate of $531.43 million. During the same period in the prior year, the company posted $1.22 earnings per share. Boot Barn’s revenue was up 18.7% compared to the same quarter last year. 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, equities research analysts predict that Boot Barn will post 8.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Boot Barn by 11.4% in the fourth quarter. Principal Financial Group Inc. now owns 393,098 shares of the company’s stock valued at $69,370,000 after acquiring an additional 40,282 shares during the last quarter. UBS Group AG lifted its stake in Boot Barn by 16.4% during the fourth quarter. UBS Group AG now owns 172,380 shares of the company’s stock worth $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Boot Barn during the fourth quarter worth $2,644,000. Comerica Bank increased its stake in shares of Boot Barn by 71.5% in the 4th quarter. Comerica Bank now owns 34,439 shares of the company’s stock valued at $6,077,000 after purchasing an additional 14,354 shares during the last quarter. Finally, Aberdeen Group plc raised its holdings in shares of Boot Barn by 15.4% during the 4th quarter. Aberdeen Group plc now owns 170,443 shares of the company’s stock worth $30,078,000 after buying an additional 22,738 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.