Boot Barn (NYSE:BOOT) Price Target Raised to $207.00

Boot Barn (NYSE:BOOT) had its target price hoisted by Stephens from $196.00 to $207.00 in a research note released on Monday morning, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on BOOT. TD Cowen decreased their price objective on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Piper Sandler cut their price target on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. BTIG Research decreased their price target on shares of Boot Barn from $235.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Robert W. Baird set a $212.00 price objective on shares of Boot Barn in a research report on Thursday, July 30th. Finally, Bank of America dropped their price objective on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $219.55.

Boot Barn Stock Performance

NYSE:BOOT opened at $160.75 on Monday. Boot Barn has a 52-week low of $133.18 and a 52-week high of $210.25. The stock has a fifty day moving average of $162.13 and a 200 day moving average of $166.20. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.07 and a beta of 1.71.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.60. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The business had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. During the same period in the prior year, the company earned $1.74 EPS. The company’s quarterly 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. Equities analysts forecast that Boot Barn will post 9.18 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

A number of hedge funds have recently bought and sold shares of BOOT. BlackRock Inc. bought a new stake in shares of Boot Barn in the 2nd quarter worth approximately $840,629,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Boot Barn by 83.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock valued at $194,725,000 after purchasing an additional 502,275 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Boot Barn by 2,547.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock worth $78,086,000 after purchasing an additional 453,396 shares during the period. Bank of America Corp DE raised its position in Boot Barn by 114.6% in the 1st quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock worth $95,921,000 after purchasing an additional 349,985 shares during the period. Finally, Invesco Ltd. lifted its stake in Boot Barn by 46.3% in the third quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock worth $152,033,000 after purchasing an additional 290,493 shares during the last quarter.

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.