Boot Barn (NYSE:BOOT) Upgraded at Jefferies Financial Group

Boot Barn (NYSE:BOOT) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday,Benzinga reports. The firm currently has a $195.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 38.52% from the stock’s current price.

A number of other brokerages also recently issued reports on BOOT. The Goldman Sachs Group began coverage on Boot Barn in a research report on Thursday, December 11th. They issued a “buy” rating and a $225.00 price target for the company. UBS Group raised their target price on shares of Boot Barn from $265.00 to $267.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Weiss Ratings downgraded shares of Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 4th. BTIG Research reissued a “buy” rating and issued a $235.00 price objective on shares of Boot Barn in a research report on Thursday, February 5th. Finally, Piper Sandler raised their price objective on shares of Boot Barn from $229.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.00.

Boot Barn Trading Up 4.2%

Shares of NYSE BOOT opened at $140.77 on Monday. Boot Barn has a 12-month low of $86.17 and a 12-month high of $210.25. The firm’s 50-day moving average price is $175.61 and its 200-day moving average price is $182.40. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 0.82 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $2.79 earnings per share for the quarter, hitting the consensus estimate of $2.79. Boot Barn had a return on equity of 18.28% and a net margin of 10.10%.The company had revenue of $705.64 million for the quarter, compared to analysts’ expectations of $700.71 million. During the same period in the previous year, the firm posted $2.43 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. 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. On average, equities analysts predict that Boot Barn will post 5.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Boot Barn by 4.3% during the 4th quarter. Wellington Management Group LLP now owns 1,206,107 shares of the company’s stock worth $212,842,000 after buying an additional 49,790 shares in the last quarter. State Street Corp increased its position in shares of Boot Barn by 0.6% during the fourth quarter. State Street Corp now owns 1,176,193 shares of the company’s stock worth $207,563,000 after purchasing an additional 7,410 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Boot Barn by 83.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock valued at $194,725,000 after purchasing an additional 502,275 shares during the last quarter. Invesco Ltd. raised its stake in Boot Barn by 15.7% in the 4th quarter. Invesco Ltd. now owns 1,061,668 shares of the company’s stock valued at $187,353,000 after purchasing an additional 144,262 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Boot Barn by 38.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after purchasing an additional 200,971 shares in the last quarter.

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.