Boot Barn (NYSE:BOOT) Price Target Cut to $190.00 by Analysts at TD Cowen

Boot Barn (NYSE:BOOT) had its target price dropped by analysts at TD Cowen from $225.00 to $190.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 24.75% from the company’s previous close.

BOOT has been the topic of a number of other research reports. Jefferies Financial Group raised shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Monday, April 6th. Bank of America lowered their price target 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. Weiss Ratings cut Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Robert W. Baird set a $212.00 target price on Boot Barn in a report on Thursday. Finally, Citigroup reissued a “buy” rating on shares of Boot Barn in a research note on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Boot Barn presently has an average rating of “Moderate Buy” and an average target price of $221.25.

Boot Barn Stock Up 0.9%

BOOT stock traded up $1.42 during trading on Thursday, hitting $152.31. 587,065 shares of the company’s stock traded hands, compared to its average volume of 702,360. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 1.11 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 stock has a fifty day moving average price of $162.86 and a two-hundred day moving average price of $168.46.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $1.69 by $0.60. The business had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business 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. As a group, equities research analysts expect that Boot Barn will post 8.56 EPS for the current fiscal year.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of BOOT. Wellington Management Group LLP lifted its holdings in shares of Boot Barn by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 1,206,107 shares of the company’s stock valued at $212,842,000 after purchasing an additional 49,790 shares in the last quarter. State Street Corp lifted its position in Boot Barn by 0.6% in the 4th quarter. State Street Corp now owns 1,176,193 shares of the company’s stock valued at $207,563,000 after acquiring an additional 7,410 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Boot Barn by 83.6% during the 4th 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 period. Invesco Ltd. boosted its stake in shares of Boot Barn by 15.7% in the 4th quarter. Invesco Ltd. now owns 1,061,668 shares of the company’s stock worth $187,353,000 after buying an additional 144,262 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Boot Barn by 38.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after purchasing an additional 200,971 shares during the period.

Boot Barn News Summary

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q1 revenue of $593.5 million, up 17.7% year over year, while same-store sales increased 4.7%. Earnings of $2.29 per share exceeded the $1.69 analyst consensus and rose from $1.74 a year earlier, providing the main bullish catalyst. Boot Barn fiscal first-quarter results
• Positive Sentiment: Management raised or maintained an optimistic full-year outlook, projecting fiscal 2027 EPS of $8.80 to $9.23 versus the $8.54 consensus. The upper end includes approximately $0.46 per share from tariff refunds, while projected sales are about $2.6 billion. Boot Barn fiscal 2027 outlook
• Positive Sentiment: The company’s growth profile continues to attract attention, with Zacks highlighting Boot Barn as a strong growth-stock candidate based on its style-score methodology. Why Boot Barn is a strong growth stock
• Neutral Sentiment: Boot Barn is expanding its store base by moving into a Gilroy, California, shopping center formerly occupied by Old Navy. The move supports long-term footprint growth, although its immediate financial impact is unclear. Boot Barn Gilroy store expansion
• Negative Sentiment: Second-quarter guidance was below expectations: EPS of $1.55 to $1.65 versus the $1.69 consensus, and revenue of $572 million to $582 million versus $593.9 million. This suggests a potential slowdown after the first-quarter beat. Boot Barn earnings and guidance
• Negative Sentiment: Some analysts argue that store expansion alone does not justify Boot Barn’s valuation, increasing concern that future growth expectations may already be reflected in the stock price. Boot Barn valuation analysis

Boot Barn Company Profile

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.