Boot Barn’s (BOOT) Buy Rating Reiterated at TD Cowen

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating reissued by investment analysts at TD Cowen in a research report issued on Thursday,Benzinga reports. They presently have a $225.00 target price on the stock. TD Cowen’s target price indicates a potential upside of 28.81% from the stock’s previous close.

Several other equities research analysts have also issued reports on BOOT. UBS Group increased their target price on shares of Boot Barn from $270.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, May 15th. BTIG Research reissued a “buy” rating and set a $235.00 price target on shares of Boot Barn in a report on Friday, May 15th. Bank of America decreased their target price on Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Stephens upgraded Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 price target for the company in a research note on Friday, February 6th. Finally, Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.83.

Boot Barn Price Performance

Shares of BOOT stock opened at $174.68 on Thursday. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.21 and a beta of 1.70. Boot Barn has a 1 year low of $133.18 and a 1 year high of $210.25. The firm has a fifty day moving average price of $156.92 and a 200-day moving average price of $176.30.

Boot Barn (NYSE:BOOT) last announced its earnings results on Thursday, May 14th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.02. The company had revenue of $538.75 million for the quarter, compared to analysts’ expectations of $531.44 million. Boot Barn had a return on equity of 18.15% 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 last year, the firm 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. Equities research analysts expect that Boot Barn will post 8.54 EPS for the current year.

Hedge Funds Weigh In On Boot Barn

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliance Wealth Advisors LLC UT purchased a new stake in Boot Barn during the third quarter valued at approximately $607,000. UBS Group AG increased its position in shares of Boot Barn by 16.4% during the 4th quarter. UBS Group AG now owns 172,380 shares of the company’s stock valued at $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Boot Barn by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 393,098 shares of the company’s stock valued at $69,370,000 after buying an additional 40,282 shares during the period. Asset Management One Co. Ltd. bought a new stake in Boot Barn in the fourth quarter worth $2,644,000. Finally, Fieldview Capital Management LLC boosted its stake in Boot Barn by 1,197.6% during the third quarter. Fieldview Capital Management LLC now owns 17,634 shares of the company’s stock worth $2,922,000 after buying an additional 16,275 shares during the period.

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.