Boot Barn Holdings, Inc. (NYSE:BOOT) Receives Average Recommendation of “Buy” from Brokerages

Boot Barn Holdings, Inc. (NYSE:BOOT) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $219.5455.

BOOT has been the subject of a number of research reports. Robert W. Baird set a $212.00 target price on Boot Barn in a research note on Thursday, July 30th. Zacks Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. TD Cowen cut 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. Stephens boosted their price objective on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Piper Sandler lowered their price objective on Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, May 15th.

Hedge Funds Weigh In On Boot Barn

Several hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of Boot Barn by 7.2% in the 4th quarter. IFP Advisors Inc now owns 942 shares of the company’s stock worth $166,000 after buying an additional 63 shares in the last quarter. Cynosure Group LLC lifted its position in shares of Boot Barn by 3.3% during the 4th quarter. Cynosure Group LLC now owns 2,435 shares of the company’s stock worth $430,000 after buying an additional 78 shares during the period. State of Wisconsin Investment Board boosted its stake in Boot Barn by 0.3% in the 4th quarter. State of Wisconsin Investment Board now owns 33,374 shares of the company’s stock valued at $5,890,000 after buying an additional 89 shares in the last quarter. MML Investors Services LLC boosted its stake in Boot Barn by 2.2% in the 2nd quarter. MML Investors Services LLC now owns 4,262 shares of the company’s stock valued at $648,000 after buying an additional 93 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in Boot Barn by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 4,490 shares of the company’s stock valued at $792,000 after acquiring an additional 97 shares during the period.

Boot Barn Stock Performance

Boot Barn stock opened at $141.14 on Friday. Boot Barn has a 1 year low of $133.18 and a 1 year high of $210.25. The firm’s 50-day moving average is $156.56 and its 200-day moving average is $161.44. The company has a market cap of $4.27 billion, a P/E ratio of 17.87, a PEG ratio of 0.92 and a beta of 1.70.

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

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.