BTIG Research Reaffirms Buy Rating for Boot Barn (NYSE:BOOT)

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating restated by analysts at BTIG Research in a report released on Friday,Benzinga reports. They presently have a $235.00 price objective on the stock. BTIG Research’s price target would suggest a potential upside of 60.62% from the company’s current price.

A number of other analysts have also weighed in on the company. Zacks Research lowered Boot Barn from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. UBS Group increased their price target on shares of Boot Barn from $267.00 to $270.00 and gave the company a “buy” rating in a research report on Monday. Citigroup reissued a “buy” rating on shares of Boot Barn in a report on Monday, May 4th. Jefferies Financial Group upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research report on Monday, April 6th. Finally, Stephens raised shares of Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 price objective for the company in a research note on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $233.27.

Boot Barn Trading Up 0.7%

Boot Barn stock opened at $146.31 on Friday. Boot Barn has a 1-year low of $133.18 and a 1-year high of $210.25. The firm has a market capitalization of $4.45 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.73. The firm’s 50 day simple moving average is $159.66 and its 200 day simple moving average is $179.24.

Boot Barn (NYSE:BOOT) last posted its quarterly 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. The business had revenue of $538.75 million during the quarter, compared to analyst estimates of $531.23 million. Boot Barn had a net margin of 10.10% and a return on equity of 18.28%. The company’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. 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. Research analysts forecast that Boot Barn will post 7.33 earnings per share for the current year.

Hedge Funds Weigh In On Boot Barn

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Boot Barn by 132.4% during the 3rd quarter. Principal Financial Group Inc. now owns 352,816 shares of the company’s stock valued at $58,469,000 after buying an additional 201,026 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Boot Barn in the 3rd quarter worth about $13,407,000. Alliance Wealth Advisors LLC UT bought a new position in shares of Boot Barn in the 3rd quarter worth about $607,000. GatePass Capital LLC bought a new position in shares of Boot Barn in the 3rd quarter worth about $1,662,000. Finally, Fieldview Capital Management LLC lifted its position in Boot Barn by 1,197.6% during the 3rd quarter. Fieldview Capital Management LLC now owns 17,634 shares of the company’s stock valued at $2,922,000 after acquiring an additional 16,275 shares during the period.

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.