Boot Barn’s (BOOT) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Boot Barn (NYSE:BOOT) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $235.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Piper Sandler decreased their price objective on Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Boot Barn in a report on Monday, May 4th. Bank of America reduced their price target on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, TD Cowen restated a “buy” rating on shares of Boot Barn in a report on Wednesday, June 17th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.92.

Boot Barn Trading Down 4.8%

NYSE:BOOT opened at $151.03 on Monday. Boot Barn has a 12 month low of $133.18 and a 12 month high of $210.25. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.11 and a beta of 1.69. The firm has a fifty day simple moving average of $162.86 and a two-hundred day simple moving average of $168.46.

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 the consensus estimate of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 earnings per share. 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. Equities analysts predict that Boot Barn will post 8.56 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

Several institutional investors and hedge funds have recently modified their holdings of BOOT. Wellington Management Group LLP lifted its holdings in shares of Boot Barn by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 1,206,107 shares of the company’s stock valued at $212,842,000 after purchasing an additional 49,790 shares in the last quarter. State Street Corp grew its holdings in Boot Barn by 0.6% during the fourth quarter. State Street Corp now owns 1,176,193 shares of the company’s stock worth $207,563,000 after buying an additional 7,410 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Boot Barn by 83.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock worth $194,725,000 after buying an additional 502,275 shares in the last quarter. Invesco Ltd. raised its position in Boot Barn by 15.7% in the 4th quarter. Invesco Ltd. now owns 1,061,668 shares of the company’s stock valued at $187,353,000 after buying an additional 144,262 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Boot Barn by 38.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after buying an additional 200,971 shares during the last quarter.

Key Boot Barn News

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q1 2027 adjusted earnings of $2.29 per share, well above the $1.69 analyst consensus and up from $1.74 a year earlier. Revenue increased 17.7% year over year to $593.5 million, topping the $583.15 million estimate. Boot Barn fiscal first-quarter results
• Positive Sentiment: Comparable-store sales rose 4.7%, including a 3.8% increase in retail-store same-store sales, indicating continued demand for Boot Barn’s Western and workwear products. The quarter also produced a 10.02% net margin and 18.15% return on equity. Boot Barn key first-quarter metrics
• Positive Sentiment: Full-year fiscal 2027 EPS guidance of $8.80 to $9.23 is above the $8.54 consensus estimate, supporting the longer-term earnings outlook. Full-year revenue guidance was broadly in line with expectations. Boot Barn earnings report
• Neutral Sentiment: The strong quarterly beat confirms positive operating momentum, but investors are focusing more heavily on forward guidance than on the recently completed quarter.
• Negative Sentiment: Second-quarter fiscal 2027 guidance is below consensus: EPS of $1.55 to $1.65 versus $1.69 expected, and revenue of $572 million to $582 million versus $593.9 million expected. This cautious near-term outlook is the primary reason the stock has moved lower despite the earnings beat. Boot Barn guidance announcement

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.