Boot Barn (NYSE:BOOT) Stock Price Down 6.6% – Here’s What Happened

Boot Barn Holdings, Inc. (NYSE:BOOT) shares were down 6.6% during trading on Tuesday . The company traded as low as $133.36 and last traded at $133.4650. 221,391 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 688,948 shares. The stock had previously closed at $142.84.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research upgraded shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Robert W. Baird set a $212.00 price objective on shares of Boot Barn in a research note on Thursday, July 30th. UBS Group set a $225.00 target price on shares of Boot Barn in a research note on Wednesday, June 17th. BTIG Research reiterated a “buy” rating and issued a $215.00 price target on shares of Boot Barn in a research note on Tuesday. Finally, Stephens upped their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $219.55.

Boot Barn Stock Down 10.5%

The business’s fifty day moving average is $155.98 and its two-hundred day moving average is $160.73. The stock has a market capitalization of $3.87 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 EPS. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 9.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Boot Barn in the second quarter valued at $33,000. Integrated Wealth Concepts LLC purchased a new position in shares of Boot Barn during the 2nd quarter worth about $46,000. Quantbot Technologies LP bought a new position in Boot Barn during the 2nd quarter valued at about $46,000. Hantz Financial Services Inc. grew its holdings in Boot Barn by 284.1% during the 4th quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock valued at $60,000 after purchasing an additional 250 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in Boot Barn in the 2nd quarter worth about $57,000.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.