Craig Hallum Cuts Boot Barn (NYSE:BOOT) Price Target to $224.00

Boot Barn (NYSE:BOOT) had its target price trimmed by Craig Hallum from $235.00 to $224.00 in a research note published on Tuesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently commented on BOOT. Weiss Ratings downgraded shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. TD Cowen cut their price objective on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Stephens boosted their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. BTIG Research reaffirmed a “buy” rating and issued a $215.00 target price on shares of Boot Barn in a research report on Tuesday, September 15th. Finally, Zacks Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Boot Barn currently has a consensus rating of “Buy” and a consensus target price of $215.58.

Boot Barn Trading Up 0.4%

Shares of NYSE BOOT opened at $120.95 on Tuesday. The company has a market capitalization of $3.66 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.77 and a beta of 1.77. Boot Barn has a 12 month low of $119.21 and a 12 month high of $210.25. The stock has a 50 day moving average of $148.06 and a 200-day moving average of $155.54.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating 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 analysts’ expectations of $583.15 million. During the same quarter in the prior year, the business earned $1.74 EPS. The firm’s revenue for the quarter 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. Analysts predict that Boot Barn will post 9.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. OLD National Bancorp IN increased its stake in shares of Boot Barn by 8.7% in the 1st quarter. OLD National Bancorp IN now owns 1,556 shares of the company’s stock valued at $228,000 after purchasing an additional 125 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Boot Barn by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company’s stock worth $738,000 after buying an additional 131 shares during the last quarter. KBC Group NV boosted its stake in Boot Barn by 21.3% in the first quarter. KBC Group NV now owns 1,064 shares of the company’s stock valued at $156,000 after buying an additional 187 shares in the last quarter. Parallel Advisors LLC grew its position in Boot Barn by 39.7% in the first quarter. Parallel Advisors LLC now owns 662 shares of the company’s stock valued at $97,000 after acquiring an additional 188 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Boot Barn in the second quarter valued at about $33,000.

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 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.