TD Cowen Reaffirms Buy Rating for Boot Barn (NYSE:BOOT)

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

A number of other analysts have also commented on the company. Jefferies Financial Group raised Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a report on Monday, April 6th. Citigroup reaffirmed a “buy” rating on shares of Boot Barn in a report on Monday, May 4th. Piper Sandler dropped their price objective on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Robert W. Baird reduced their price objective on Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Finally, Stephens raised Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 target price for the company in a research report on Friday, February 6th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Boot Barn presently has a consensus rating of “Moderate Buy” and an average target price of $230.83.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $174.68 on Thursday. The firm’s 50 day moving average price is $156.92 and its 200-day moving average price is $176.30. The company has a market cap of $5.30 billion, a PE ratio of 23.88, a P/E/G ratio of 1.21 and a beta of 1.70. 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 Thursday, May 14th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The company had revenue of $538.75 million during the quarter, compared to the consensus estimate of $531.44 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. 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. On average, analysts forecast that Boot Barn will post 8.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in Boot Barn during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new position in Boot Barn in the third quarter worth about $49,000. Danske Bank A S grew its stake in shares of Boot Barn by 200.0% during the 4th quarter. Danske Bank A S now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 200 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Boot Barn by 284.1% during the 4th quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock valued at $60,000 after purchasing an additional 250 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Boot Barn during the 3rd quarter valued at about $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.