Boot Barn (NYSE:BOOT) Stock Rating Upgraded by Zacks Research

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

BOOT has been the topic of several other research reports. Robert W. Baird set a $212.00 target price on shares of Boot Barn in a report on Thursday, July 30th. TD Cowen lowered their price target on Boot Barn from $225.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. 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 report on Friday, May 15th. Citigroup restated a “buy” rating on shares of Boot Barn in a research note on Monday, May 4th. Finally, UBS Group set a $225.00 price objective on Boot Barn in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Boot Barn has an average rating of “Buy” and an average price target of $222.27.

Boot Barn Stock Performance

BOOT opened at $163.81 on Monday. The company’s 50-day simple moving average is $162.84 and its two-hundred day simple moving average is $167.40. The stock has a market capitalization of $4.96 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.02 and a beta of 1.71. Boot Barn has a 52-week low of $133.18 and a 52-week high of $210.25.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in Boot Barn in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in Boot Barn during the 3rd quarter worth approximately $49,000. Danske Bank A S lifted its holdings in Boot Barn by 200.0% during the fourth quarter. Danske Bank A S now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 200 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Boot Barn by 284.1% during the fourth quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock valued at $60,000 after purchasing an additional 250 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Boot Barn in the third quarter worth approximately $60,000.

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.