Boot Barn (NYSE:BOOT) Given New $160.00 Price Target at TD Cowen

Boot Barn (NYSE:BOOT) had its target price dropped by analysts at TD Cowen from $190.00 to $160.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen‘s price target points to a potential upside of 33.86% from the company’s previous close.

A number of other research analysts also recently issued reports on BOOT. BTIG Research restated a “buy” rating and set a $215.00 target price on shares of Boot Barn in a research report on Tuesday, September 15th. Needham & Company LLC began coverage on shares of Boot Barn in a research report on Friday, October 16th. They set a “buy” rating and a $150.00 price target for the company. Citigroup dropped their price target on shares of Boot Barn from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. UBS Group cut their price objective on shares of Boot Barn from $272.00 to $232.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Robert W. Baird reduced their price objective on shares of 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, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $204.77.

Boot Barn Stock Performance

NYSE BOOT opened at $119.53 on Friday. Boot Barn has a twelve month low of $110.53 and a twelve month high of $210.25. The stock has a market cap of $3.62 billion, a PE ratio of 15.13, a PEG ratio of 0.75 and a beta of 1.76. The firm has a 50-day simple moving average of $136.22 and a 200 day simple moving average of $152.18.

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, beating the consensus estimate of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $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. Research analysts forecast that Boot Barn will post 9.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gibbs Wealth Management increased its stake in shares of Boot Barn by 5.3% in the 3rd quarter. Gibbs Wealth Management now owns 9,366 shares of the company’s stock valued at $1,128,000 after acquiring an additional 469 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Boot Barn in the 3rd quarter valued at approximately $195,000. Sowell Financial Services LLC boosted its stake in Boot Barn by 6.2% during the 3rd quarter. Sowell Financial Services LLC now owns 2,858 shares of the company’s stock worth $344,000 after acquiring an additional 166 shares during the last quarter. Kirr Marbach & Co. LLC IN boosted its stake in Boot Barn by 4.2% during the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 36,000 shares of the company’s stock worth $4,337,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Boot Barn by 8.1% during the third quarter. Diversify Advisory Services LLC now owns 14,484 shares of the company’s stock valued at $1,747,000 after purchasing an additional 1,090 shares during the period.

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.