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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. 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. Needham & Company LLC began coverage on Boot Barn in a research report on Friday. They issued a “buy” rating and a $150.00 target price on the stock. Stephens lifted their target price on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. BTIG Research reaffirmed a “buy” rating and set a $215.00 target price on shares of Boot Barn in a research note on Tuesday, September 15th. Finally, Zacks Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $206.54.

Boot Barn Stock Performance

The stock has a market capitalization of $3.45 billion, a PE ratio of 14.41, a P/E/G ratio of 0.78 and a beta of 1.76. The firm has a 50 day moving average of $138.97 and a 200-day moving average of $152.62.

Boot Barn (NYSE:BOOT) last issued 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. The company had revenue of $593.51 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $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. On average, sell-side analysts predict that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

Hedge Funds Weigh In On Boot Barn

Institutional investors have recently made changes to their positions in the stock. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Boot Barn in the 3rd quarter valued at $27,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Boot Barn in the third quarter valued at $17,145,000. ZWJ Investment Counsel Inc. purchased a new stake in Boot Barn during the third quarter worth approximately $242,000. Fortitude Family Office LLC lifted its position in shares of Boot Barn by 2,076.5% during the 3rd quarter. Fortitude Family Office LLC now owns 370 shares of the company’s stock worth $45,000 after buying an additional 353 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new position in Boot Barn in the third quarter valued at $66,000.

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.