Boot Barn (NYSE:BOOT) Lowered to “Hold” Rating by Zacks Research

Boot Barn (NYSE:BOOT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

BOOT has been the subject of several other research reports. Cowen restated a “buy” rating on shares of Boot Barn in a research report on Thursday, October 30th. The Goldman Sachs Group initiated coverage on Boot Barn in a research note on Thursday, December 11th. They issued a “buy” rating and a $225.00 target price for the company. JPMorgan Chase & Co. upped their price target on Boot Barn from $276.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Boot Barn in a research report on Wednesday, October 8th. Finally, TD Cowen boosted their price objective on Boot Barn from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.00.

Boot Barn Stock Performance

Shares of BOOT stock opened at $195.98 on Monday. Boot Barn has a 52 week low of $86.17 and a 52 week high of $210.25. The stock has a market capitalization of $5.97 billion, a PE ratio of 28.99, a PEG ratio of 1.57 and a beta of 1.61. The stock’s fifty day moving average is $189.13 and its 200-day moving average is $178.73.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The business had revenue of $505.40 million for the quarter, compared to the consensus estimate of $493.70 million. Boot Barn had a net margin of 10.05% and a return on equity of 18.11%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Boot Barn has set its Q3 2026 guidance at 2.470-2.590 EPS and its FY 2026 guidance at 6.750-7.150 EPS. As a group, analysts forecast that Boot Barn will post 5.82 earnings per share for the current fiscal year.

Insider Transactions at Boot Barn

In other news, Director Gene Eddie Burt sold 1,200 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $191.41, for a total transaction of $229,692.00. Following the completion of the transaction, the director directly owned 3,338 shares in the company, valued at approximately $638,926.58. The trade was a 26.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Peter Starrett sold 6,498 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $190.00, for a total value of $1,234,620.00. Following the completion of the sale, the chairman directly owned 9,599 shares of the company’s stock, valued at approximately $1,823,810. This trade represents a 40.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Boot Barn

Several large investors have recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in Boot Barn in the third quarter worth $25,000. Bessemer Group Inc. raised its position in shares of Boot Barn by 134.2% during the second quarter. Bessemer Group Inc. now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 106 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Boot Barn by 164.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Maseco LLP bought a new position in shares of Boot Barn during the 2nd quarter valued at about $40,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Boot Barn in the 3rd quarter valued at approximately $42,000.

Boot Barn Company Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.