Boot Barn (NYSE:BOOT) Reaches New 52-Week Low – Here’s What Happened

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $110.53 and last traded at $112.6320, with a volume of 991,345 shares. The stock had previously closed at $117.57.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. TD Cowen lowered their price target on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Robert W. Baird dropped their price objective on Boot Barn from $212.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, September 29th. Finally, BTIG Research restated a “buy” rating and issued a $215.00 target price on shares of Boot Barn in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Boot Barn presently has a consensus rating of “Buy” and a consensus price target of $206.54.

Boot Barn Price Performance

The company’s 50-day moving average price is $139.95 and its two-hundred day moving average price is $152.72. The company has a market capitalization of $3.69 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.78 and a beta of 1.76.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The firm had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. 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. On average, analysts anticipate that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

Several hedge funds have recently made changes to their positions in the business. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Boot Barn in the 3rd quarter worth $27,000. Fort Washington Investment Advisors Inc. OH purchased a new position in Boot Barn in the third quarter worth about $17,145,000. ZWJ Investment Counsel Inc. bought a new stake in shares of Boot Barn in the 3rd quarter worth about $242,000. Fortitude Family Office LLC increased its stake in Boot Barn by 2,076.5% in the third quarter. Fortitude Family Office LLC now owns 370 shares of the company’s stock worth $45,000 after purchasing an additional 353 shares during the period. Finally, GK Wealth Management LLC bought a new position in Boot Barn in the third quarter worth approximately $66,000.

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 for men, women and children, including western boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and other lifestyle merchandise. Its assortment includes national brands as well as exclusive and private-label offerings.

Boot Barn serves customers through a network of retail stores across the United States and through its e-commerce platforms.