Boot Barn (NYSE:BOOT) Reaches New 12-Month Low After Analyst Downgrade

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price hit a new 52-week low on Tuesday after Craig Hallum lowered their price target on the stock from $235.00 to $224.00. Craig Hallum currently has a buy rating on the stock. Boot Barn traded as low as $119.21 and last traded at $121.6790, with a volume of 42592 shares traded. The stock had previously closed at $126.16.

Several other research analysts have also recently commented on the company. TD Cowen reduced their target price on Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Robert W. Baird lowered their price target on shares of Boot Barn from $212.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday. BTIG Research restated a “buy” rating and issued a $215.00 price objective on shares of Boot Barn in a research note on Tuesday, September 15th. Weiss Ratings cut shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Finally, 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 report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $215.58.

Institutional Investors Weigh In On Boot Barn

A number of large investors have recently bought and sold shares of BOOT. Arrowstreet Capital Limited Partnership raised its position in Boot Barn by 361.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company’s stock valued at $7,091,000 after purchasing an additional 37,951 shares during the last quarter. Fifth Third Bancorp boosted its stake in Boot Barn by 15,768.5% in the first quarter. Fifth Third Bancorp now owns 34,276 shares of the company’s stock worth $5,017,000 after purchasing an additional 34,060 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Boot Barn by 7.6% during the second quarter. Wedge Capital Management L L P NC now owns 212,327 shares of the company’s stock worth $34,879,000 after purchasing an additional 15,074 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Boot Barn by 335.5% during the first quarter. Hsbc Holdings PLC now owns 14,527 shares of the company’s stock worth $2,132,000 after purchasing an additional 11,191 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Boot Barn by 26.2% in the first quarter. Janus Henderson Group PLC now owns 211,066 shares of the company’s stock valued at $30,894,000 after buying an additional 43,786 shares in the last quarter.

Boot Barn Price Performance

The stock has a 50 day moving average price of $149.71 and a two-hundred day moving average price of $156.51. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.79 and a beta of 1.70.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. 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. Sell-side analysts forecast that Boot Barn Holdings, Inc. will post 9.18 EPS for the current fiscal year.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.