Boot Barn (NYSE:BOOT) Price Target Lowered to $206.00 at Bank of America

Boot Barn (NYSE:BOOT) had its price target reduced by Bank of America from $224.00 to $206.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research report on Monday, April 6th. Weiss Ratings lowered Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 4th. BTIG Research reiterated a “buy” rating and issued a $235.00 target price on shares of Boot Barn in a research report on Friday. Citigroup reiterated a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. Finally, UBS Group lifted their target price on Boot Barn from $270.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Boot Barn currently has an average rating of “Moderate Buy” and a consensus price target of $230.83.

Boot Barn Stock Down 1.7%

BOOT stock opened at $143.92 on Friday. Boot Barn has a 52-week low of $133.18 and a 52-week high of $210.25. The stock’s 50 day moving average is $158.86 and its two-hundred day moving average is $178.99. The company has a market capitalization of $4.38 billion, a PE ratio of 19.58, a P/E/G ratio of 0.89 and a beta of 1.73.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.02. The company had revenue of $538.75 million for the quarter, compared to the consensus estimate of $531.44 million. Boot Barn had a return on equity of 18.52% and a net margin of 10.02%.Boot Barn’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. 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. As a group, sell-side analysts anticipate that Boot Barn will post 8.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in Boot Barn by 25.3% during the 1st quarter. Lazard Asset Management LLC now owns 3,391 shares of the company’s stock valued at $496,000 after purchasing an additional 684 shares during the period. Entropy Technologies LP acquired a new position in Boot Barn during the 1st quarter valued at approximately $598,000. Renaissance Technologies LLC acquired a new position in Boot Barn during the 1st quarter valued at approximately $7,596,000. Public Employees Retirement System of Ohio boosted its position in Boot Barn by 7.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 8,081 shares of the company’s stock valued at $1,183,000 after purchasing an additional 532 shares during the period. Finally, Keebeck Wealth Management acquired a new position in Boot Barn during the 1st quarter valued at approximately $251,000.

Key Boot Barn News

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

• Positive Sentiment: Boot Barn reported fiscal Q4 earnings and revenue that both topped Wall Street estimates, with EPS of $1.45 versus $1.43 expected and revenue of $538.75 million versus $531.23 million expected. Revenue rose 18.7% year over year, suggesting demand remains solid. Article source
• Positive Sentiment: The company described the period as a “record year” and continued to highlight store expansion, including an 80-store increase, which supports a longer-term growth story. Article source
• Positive Sentiment: Boot Barn’s fiscal 2027 outlook calls for $2.6 billion in revenue and EPS of $8.21 to $8.64, reinforcing management’s confidence in continued growth. Article source
• Neutral Sentiment: Several brokerages reiterated bullish ratings, but some lowered their price targets after the earnings update, including Bank of America and Robert W. Baird, indicating expectations remain constructive but have been adjusted downward. Article source
• Negative Sentiment: Boot Barn’s first-quarter fiscal 2027 EPS guidance of $1.62 to $1.71 came in below the consensus estimate of $1.94, which may be pressuring the stock despite the strong Q4 beat. Article source

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.