Boot Barn (NYSE:BOOT) Sets New 52-Week Low – Time to Sell?

Boot Barn Holdings, Inc. (NYSE:BOOT) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $118.79 and last traded at $119.3850, with a volume of 85118 shares changing hands. The stock had previously closed at $121.60.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BOOT. Stephens raised their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. TD Cowen dropped their target price on Boot Barn from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Craig Hallum dropped their price target on Boot Barn from $235.00 to $224.00 and set a “buy” rating on the stock in a research report on Tuesday, September 29th. UBS Group set a $225.00 price objective on Boot Barn in a research report on Wednesday, June 17th. Finally, Robert W. Baird cut their target price on Boot Barn from $212.00 to $160.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Boot Barn has a consensus rating of “Buy” and a consensus target price of $215.58.

Boot Barn Price Performance

The firm has a 50 day simple moving average of $144.92 and a 200-day simple moving average of $154.26. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.79 and a beta of 1.76.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.60. The business had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last 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. On average, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently modified their holdings of BOOT. GAMMA Investing LLC boosted its position in Boot Barn by 8.7% during the third quarter. GAMMA Investing LLC now owns 1,578 shares of the company’s stock valued at $190,000 after acquiring an additional 126 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Boot Barn by 94.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 315 shares of the company’s stock valued at $38,000 after buying an additional 153 shares in the last quarter. CoreCap Advisors LLC raised its stake in Boot Barn by 85.8% in the third quarter. CoreCap Advisors LLC now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Congress Asset Management Co. boosted its stake in Boot Barn by 0.9% in the third quarter. Congress Asset Management Co. now owns 804,659 shares of the company’s stock worth $96,937,000 after buying an additional 7,040 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Boot Barn in the 3rd quarter worth approximately $114,000.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on western and work-related apparel, footwear and accessories. The company sells products for men, women and children, including western boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and other lifestyle merchandise. Its assortment includes national brands as well as exclusive and private-label offerings.

Boot Barn serves customers through a network of retail stores across the United States and through its e-commerce platforms.