Boot Barn (NYSE:BOOT) Upgraded by Zacks Research to Strong-Buy Rating

Boot Barn (NYSE:BOOT) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Citigroup reaffirmed a “buy” rating on shares of Boot Barn in a report on Monday, May 4th. Weiss Ratings raised Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Robert W. Baird set a $212.00 price target on shares of Boot Barn in a report on Thursday, July 30th. Piper Sandler dropped their price objective on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Finally, Jefferies Financial Group upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $222.27.

Boot Barn Stock Performance

NYSE BOOT opened at $163.81 on Monday. The stock has a 50-day simple moving average of $162.84 and a 200 day simple moving average of $167.40. Boot Barn has a twelve month low of $133.18 and a twelve month high of $210.25. The stock has a market capitalization of $4.96 billion, a PE ratio of 20.74, a P/E/G ratio of 1.02 and a beta of 1.71.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.60. The company had revenue of $593.51 million during the quarter, compared to analysts’ expectations of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.Boot Barn’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 earnings per share. 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 forecast that Boot Barn will post 9.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Several institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in shares of Boot Barn by 7.2% during the 4th quarter. IFP Advisors Inc now owns 942 shares of the company’s stock worth $166,000 after buying an additional 63 shares during the last quarter. Cynosure Group LLC grew its position in Boot Barn by 3.3% during the fourth quarter. Cynosure Group LLC now owns 2,435 shares of the company’s stock worth $430,000 after buying an additional 78 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Boot Barn by 20.7% during the 4th quarter. Farther Finance Advisors LLC now owns 496 shares of the company’s stock valued at $88,000 after acquiring an additional 85 shares during the period. State of Wisconsin Investment Board lifted its position in shares of Boot Barn by 0.3% during the 4th quarter. State of Wisconsin Investment Board now owns 33,374 shares of the company’s stock valued at $5,890,000 after acquiring an additional 89 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of Boot Barn by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 4,262 shares of the company’s stock worth $648,000 after purchasing an additional 93 shares in the last quarter.

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.