Boot Barn (NYSE:BOOT) Stock Price Target Cut by Robert W. Baird

Boot Barn (NYSE:BOOT) had its price objective dropped by equities research analysts at Robert W. Baird from $212.00 to $160.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 27.00% from the company’s previous close.

Several other equities research analysts have also recently weighed in on BOOT. Weiss Ratings cut shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. BTIG Research restated a “buy” rating and issued a $215.00 target price on shares of Boot Barn in a research report on Tuesday, September 15th. UBS Group set a $225.00 price target on shares of Boot Barn in a report on Wednesday, June 17th. TD Cowen decreased their price objective 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. Finally, Stephens raised their target price on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $214.82.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $125.98 on Tuesday. The business’s 50 day simple moving average is $149.71 and its 200 day simple moving average is $156.51. Boot Barn has a 1 year low of $120.64 and a 1 year high of $210.25. The company has a market capitalization of $3.81 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.79 and a beta of 1.70.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.60. The firm had revenue of $593.51 million during the quarter, compared to analysts’ expectations of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 EPS. 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, sell-side analysts anticipate that Boot Barn will post 9.18 EPS for the current fiscal year.

Institutional Trading of Boot Barn

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Boot Barn in the second quarter valued at about $840,629,000. Goldman Sachs Group Inc. lifted its stake in shares of Boot Barn by 38.5% in the fourth 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 during the period. Wellington Management Group LLP boosted its holdings in Boot Barn by 12.2% in the second quarter. Wellington Management Group LLP now owns 773,749 shares of the company’s stock valued at $127,104,000 after acquiring an additional 84,250 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Boot Barn by 21.6% in the fourth quarter. Squarepoint Ops LLC now owns 578,318 shares of the company’s stock valued at $102,056,000 after acquiring an additional 102,857 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Boot Barn by 114.6% during the 1st quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock valued at $95,921,000 after purchasing an additional 349,985 shares during the period.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.