Boot Barn (NYSE:BOOT) Stock Gets Price Target Cut from TD Cowen

Boot Barn (NYSE:BOOT) had its price objective lowered by research analysts at TD Cowen from $190.00 to $160.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen‘s target price indicates a potential upside of 33.86% from the company’s current price.

Several other equities research analysts also recently issued reports on BOOT. Needham & Company LLC began coverage on Boot Barn in a report on Friday, October 16th. They issued a “buy” rating and a $150.00 price target for the company. Zacks Research raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Citigroup cut their price objective on Boot Barn from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings upgraded Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Craig Hallum decreased their price objective on Boot Barn from $235.00 to $224.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $204.77.

Boot Barn Stock Up 3.0%

BOOT opened at $119.53 on Friday. Boot Barn has a 12 month low of $110.53 and a 12 month high of $210.25. The company has a fifty day simple moving average of $136.22 and a 200 day simple moving average of $152.18. The stock has a market cap of $3.62 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.75 and a beta of 1.76.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $1.69 by $0.60. The business had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%. The firm’s revenue was up 17.7% compared to the same quarter last year. 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, equities research analysts expect that Boot Barn will post 9.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its stake in Boot Barn by 85.8% in the 3rd quarter. CoreCap Advisors LLC now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 103 shares during the period. OLD National Bancorp IN increased its holdings in Boot Barn by 8.7% during the 1st quarter. OLD National Bancorp IN now owns 1,556 shares of the company’s stock worth $228,000 after purchasing an additional 125 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Boot Barn by 8.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,578 shares of the company’s stock valued at $190,000 after purchasing an additional 126 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Boot Barn by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company’s stock valued at $738,000 after purchasing an additional 131 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Boot Barn by 94.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 315 shares of the company’s stock valued at $38,000 after purchasing an additional 153 shares during the period.

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 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.