William Blair Issues Negative Outlook for Boot Barn Earnings

Boot Barn Holdings, Inc. (NYSE:BOOT) – William Blair lowered their Q3 2026 earnings per share (EPS) estimates for Boot Barn in a research report issued on Thursday, May 15th. William Blair analyst D. Carden now expects that the company will post earnings per share of $2.31 for the quarter, down from their prior forecast of $2.85. The consensus estimate for Boot Barn’s current full-year earnings is $5.82 per share. William Blair also issued estimates for Boot Barn’s Q4 2026 earnings at $1.04 EPS, FY2026 earnings at $5.98 EPS, Q3 2027 earnings at $2.77 EPS, Q4 2027 earnings at $1.32 EPS and FY2027 earnings at $7.16 EPS.

A number of other research firms have also commented on BOOT. Piper Sandler raised their price objective on Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. UBS Group raised their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Citigroup raised their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Robert W. Baird lifted their price target on Boot Barn from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, StockNews.com lowered Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.62.

Boot Barn Price Performance

Boot Barn stock opened at $162.76 on Monday. The stock’s fifty day moving average price is $109.45 and its two-hundred day moving average price is $130.55. Boot Barn has a one year low of $86.17 and a one year high of $176.64. The firm has a market cap of $4.98 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million for the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share.

Institutional Trading of Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can increased its position in shares of Boot Barn by 1.4% during the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after acquiring an additional 82 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock valued at $1,242,000 after acquiring an additional 83 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock valued at $208,000 after acquiring an additional 97 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Boot Barn by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after purchasing an additional 98 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in Boot Barn by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after purchasing an additional 100 shares during the period.

Boot Barn announced that its board has initiated a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.