Zacks Research Downgrades Boot Barn (NYSE:BOOT) to Hold

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

Other equities analysts have also recently issued reports about the stock. Stephens raised shares of Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 target price for the company in a research note on Friday, February 6th. UBS Group increased their price target on shares of Boot Barn from $265.00 to $267.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Citigroup boosted their target price on Boot Barn from $230.00 to $232.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Piper Sandler upped their price target on shares of Boot Barn from $229.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings lowered Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 4th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.00.

Boot Barn Stock Performance

NYSE:BOOT opened at $164.26 on Thursday. Boot Barn has a 52-week low of $86.17 and a 52-week high of $210.25. The firm has a market capitalization of $5.00 billion, a PE ratio of 23.07, a P/E/G ratio of 1.19 and a beta of 1.66. The stock has a 50-day simple moving average of $187.92 and a two-hundred day simple moving average of $185.47.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $2.79 earnings per share for the quarter, meeting the consensus estimate of $2.79. The business had revenue of $705.64 million for the quarter, compared to the consensus estimate of $700.71 million. Boot Barn had a net margin of 10.10% and a return on equity of 18.28%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.43 earnings per share. Boot Barn has set its FY 2026 guidance at 7.250-7.350 EPS and its Q4 2026 guidance at 1.350-1.450 EPS. Equities analysts forecast that Boot Barn will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

A number of institutional investors have recently made changes to their positions in the business. ORG Partners LLC acquired a new position in Boot Barn during the 3rd quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in Boot Barn during the fourth quarter worth about $29,000. Parkside Financial Bank & Trust boosted its holdings in Boot Barn by 164.4% during the third quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $32,000 after buying an additional 120 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Boot Barn during the 3rd quarter worth about $42,000. Finally, Independence Bank of Kentucky acquired a new stake in Boot Barn in the third quarter valued at approximately $46,000.

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.