Boot Barn (NYSE:BOOT) Stock Falls 4% – Here’s Why

Boot Barn Holdings, Inc. (NYSE:BOOT) shares traded down 4% on Tuesday. The stock traded as low as $114.76 and last traded at $114.5420. 300,873 shares were traded during trading, a decline of 57% from the average session volume of 703,241 shares. The stock had previously closed at $119.36.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BOOT shares. Citigroup decreased their price target on Boot Barn from $205.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Needham & Company LLC assumed coverage on shares of Boot Barn in a research note on Friday. They set a “buy” rating and a $150.00 price objective for the company. BTIG Research reiterated a “buy” rating and set a $215.00 target price on shares of Boot Barn in a report on Tuesday, September 15th. TD Cowen dropped their price target on Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Robert W. Baird cut their price target on Boot Barn from $212.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $206.54.

Boot Barn Trading Down 4.6%

The company has a market cap of $3.45 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.78 and a beta of 1.76. The stock’s 50 day moving average price is $138.97 and its 200 day moving average price is $152.62.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $583.15 million. During the same period in the previous year, the firm earned $1.74 earnings per share. Boot Barn’s revenue was up 17.7% compared to the same quarter last year. 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. On average, equities analysts expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Boot Barn by 361.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company’s stock valued at $7,091,000 after acquiring an additional 37,951 shares in the last quarter. Bank of America Corp DE acquired a new stake in Boot Barn during the 2nd quarter valued at approximately $43,720,000. Fifth Third Bancorp grew its stake in Boot Barn by 15,768.5% during the 1st quarter. Fifth Third Bancorp now owns 34,276 shares of the company’s stock valued at $5,017,000 after purchasing an additional 34,060 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Boot Barn by 7.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 212,327 shares of the company’s stock worth $34,879,000 after purchasing an additional 15,074 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Boot Barn by 335.5% in the 1st quarter. Hsbc Holdings PLC now owns 14,527 shares of the company’s stock valued at $2,132,000 after purchasing an additional 11,191 shares in the last quarter.

About Boot Barn

Boot Barn Holdings, Inc is a specialty retailer focused on Western and work-related apparel, footwear and accessories. The company sells products including cowboy boots, work boots, jeans, shirts, hats, outerwear, belts and other accessories from a range of national and private-label brands.

Boot Barn serves customers through a network of retail stores across the United States, as well as through its e-commerce platform. Its merchandise is marketed to Western lifestyle customers, workers who need durable clothing and footwear, and consumers participating in activities such as rodeo, riding and outdoor recreation.

The company traces its beginnings to 1978 and is headquartered in Irvine, California.