Boot Barn (NYSE:BOOT) Stock Price Down 6.4% – Here’s Why

Boot Barn Holdings, Inc. (NYSE:BOOT)’s stock price was down 6.4% during trading on Monday . The company traded as low as $164.13 and last traded at $166.27. 353,044 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 712,127 shares. The stock had previously closed at $177.58.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BOOT. Jefferies Financial Group upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Monday, April 6th. Robert W. Baird dropped their price target on shares of Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Boot Barn in a research note on Monday, May 4th. BTIG Research reaffirmed a “buy” rating and set a $235.00 price objective on shares of Boot Barn in a research report on Friday, May 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Boot Barn in a report on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Boot Barn currently has an average rating of “Moderate Buy” and an average price target of $226.92.

Boot Barn Stock Down 6.5%

The business’s fifty day moving average is $163.97 and its two-hundred day moving average is $174.21. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.25 and a beta of 1.70.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Thursday, May 14th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The company had revenue of $538.75 million during the quarter, compared to analysts’ expectations of $531.43 million. During the same quarter last year, the company posted $1.22 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. As a group, sell-side analysts expect that Boot Barn Holdings, Inc. will post 8.54 earnings per share for the current year.

Institutional Investors Weigh In On Boot Barn

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Boot Barn by 83.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock worth $194,725,000 after buying an additional 502,275 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Boot Barn by 2,547.7% in the third quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock valued at $78,086,000 after acquiring an additional 453,396 shares in the last quarter. Bank of America Corp DE lifted its stake in Boot Barn by 114.6% in the first quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock worth $95,921,000 after acquiring an additional 349,985 shares during the last quarter. Invesco Ltd. lifted its stake in Boot Barn by 46.3% in the third quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock worth $152,033,000 after acquiring an additional 290,493 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Boot Barn by 38.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock worth $127,642,000 after acquiring an additional 200,971 shares in the last quarter.

About Boot Barn

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.