Boot Barn (NYSE:BOOT) Stock Rating Cut to “Hold” at Zacks Research

Boot Barn (NYSE:BOOT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other analysts also recently commented on BOOT. BTIG Research reiterated a “buy” rating and issued a $215.00 price objective on shares of Boot Barn in a report on Tuesday, September 15th. TD Cowen decreased their target price on shares of Boot Barn from $190.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Craig Hallum lowered their target price on Boot Barn from $235.00 to $224.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Citigroup dropped their price target on Boot Barn from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. Finally, Robert W. Baird cut their price target on Boot Barn from $212.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, September 29th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.77.

Boot Barn Stock Up 1.5%

Boot Barn stock opened at $113.32 on Tuesday. The company has a fifty day simple moving average of $132.49 and a 200-day simple moving average of $159.01. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.74 and a beta of 1.76. Boot Barn has a 52-week low of $110.53 and a 52-week high of $210.25.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.10. The firm had revenue of $581.81 million for the quarter, compared to the consensus estimate of $580.80 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.37 earnings per share. On average, research analysts anticipate that Boot Barn will post 9.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOOT. CoreCap Advisors LLC increased its position in Boot Barn by 85.8% during the third quarter. CoreCap Advisors LLC now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 103 shares during the last quarter. GAMMA Investing LLC raised its stake in Boot Barn by 8.7% during the third quarter. GAMMA Investing LLC now owns 1,578 shares of the company’s stock worth $190,000 after purchasing an additional 126 shares during the period. PNC Financial Services Group Inc. raised its stake in Boot Barn by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company’s stock worth $738,000 after purchasing an additional 131 shares during the period. Farther Finance Advisors LLC raised its stake in Boot Barn by 94.4% during the third quarter. Farther Finance Advisors LLC now owns 315 shares of the company’s stock worth $38,000 after purchasing an additional 153 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Boot Barn by 5.7% in the 3rd quarter. Park Avenue Securities LLC now owns 2,851 shares of the company’s stock valued at $343,000 after purchasing an additional 154 shares during the last quarter.

Boot Barn News Summary

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn earned $1.73 per diluted share, exceeding the $1.63 analyst consensus and rising 26.3% from $1.37 a year earlier. Revenue increased 15.1% year over year to $581.8 million, slightly above expectations. Boot Barn Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Profitability and cash generation improved: gross profit rose 17.6% to $216.5 million, operating profit reached $70.2 million, and operating cash flow grew 55% to $39.9 million. These results suggest the company is benefiting from sales growth and operating leverage. Boot Barn Q2 2027 Earnings
• Positive Sentiment: The board authorized an additional $400 million for share repurchases, which could support per-share earnings and signal management’s confidence in the valuation after the stock’s recent decline. Boot Barn Announces Q2 Results and Repurchase Authorization
• Neutral Sentiment: Management’s earnings call focused investor attention on store expansion, workwear demand, margins and the company’s updated fiscal-year plans. The market is weighing strong current performance against more cautious forward expectations. Boot Barn Q2 2027 Earnings Call Transcript
• Negative Sentiment: Boot Barn cut its fiscal-year outlook despite the quarterly beat. Lower projected revenue or earnings increases uncertainty over the pace of demand and likely explains why investors remain cautious. Boot Barn Cuts Fiscal-Year Outlook

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 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.