Boot Barn (NYSE:BOOT) Stock Price Target Lowered at Robert W. Baird

Boot Barn (NYSE:BOOT) had its price objective decreased by stock analysts at Robert W. Baird from $212.00 to $160.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 27.00% from the company’s previous close.

BOOT has been the topic of several other research reports. Zacks Research raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. UBS Group set a $225.00 price target on Boot Barn in a research report on Wednesday, June 17th. BTIG Research reaffirmed a “buy” rating and issued a $215.00 target price on shares of Boot Barn in a report on Tuesday, September 15th. Stephens raised their price objective on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Boot Barn has an average rating of “Buy” and a consensus price target of $214.82.

Boot Barn Stock Up 2.2%

BOOT opened at $125.98 on Tuesday. The stock has a market cap 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 has a 12 month low of $120.64 and a 12 month high of $210.25. The company has a fifty day simple moving average of $149.71 and a 200 day simple moving average of $156.51.

Boot Barn (NYSE:BOOT) last posted its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.60. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The business had revenue of $593.51 million during the quarter, compared to analysts’ expectations of $583.15 million. During the same period in the prior year, the business earned $1.74 EPS. Boot Barn’s revenue for the quarter was up 17.7% compared to the same quarter last year. 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, equities research analysts expect that Boot Barn will post 9.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Boot Barn during the second quarter worth approximately $33,000. Quantbot Technologies LP acquired a new stake in Boot Barn during the 2nd quarter worth approximately $46,000. Integrated Wealth Concepts LLC acquired a new stake in Boot Barn during the 2nd quarter worth approximately $46,000. Allworth Financial LP bought a new stake in Boot Barn in the 2nd quarter valued at $57,000. Finally, Hantz Financial Services Inc. boosted its stake in Boot Barn by 284.1% in the 4th quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock valued at $60,000 after purchasing an additional 250 shares during the period.

About Boot Barn

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.