Boot Barn (NYSE:BOOT) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Boot Barn (NYSE:BOOT) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on BOOT. Jefferies Financial Group lifted their price target on shares of Boot Barn from $180.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, January 12th. Weiss Ratings lowered Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 4th. The Goldman Sachs Group started coverage on Boot Barn in a research report on Thursday, December 11th. They issued a “buy” rating and a $225.00 price objective for the company. BTIG Research restated a “buy” rating and set a $235.00 target price on shares of Boot Barn in a research note on Thursday, February 5th. Finally, Piper Sandler upped their target price on Boot Barn from $229.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.00.

Boot Barn Price Performance

Shares of Boot Barn stock opened at $164.26 on Thursday. The stock has a market capitalization of $5.00 billion, a PE ratio of 23.07, a P/E/G ratio of 1.17 and a beta of 1.66. The company’s fifty day simple moving average is $187.92 and its 200-day simple moving average is $185.55. Boot Barn has a 1-year low of $86.17 and a 1-year high of $210.25.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, February 4th. The company reported $2.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.79. The business had revenue of $705.64 million for the quarter, compared to analysts’ expectations of $700.71 million. Boot Barn had a net margin of 10.10% and a return on equity of 18.28%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. 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, research analysts anticipate that Boot Barn will post 5.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC purchased a new stake in shares of Boot Barn during the third quarter valued at $25,000. Los Angeles Capital Management LLC purchased a new position in Boot Barn in the 4th quarter worth $29,000. Parkside Financial Bank & Trust lifted its position in Boot Barn by 164.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $32,000 after acquiring an additional 120 shares during the period. Salomon & Ludwin LLC acquired a new stake in Boot Barn during the 3rd quarter worth about $42,000. Finally, Independence Bank of Kentucky purchased a new stake in Boot Barn during the 3rd quarter valued at about $46,000.

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.