Boot Barn (NYSE:BOOT) Cut to “Hold” at Zacks Research

Boot Barn (NYSE:BOOT) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. UBS Group raised their price target on Boot Barn from $265.00 to $267.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Citigroup boosted their price objective on Boot Barn from $230.00 to $232.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings downgraded Boot Barn from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 4th. BTIG Research reiterated a “buy” rating and issued a $235.00 price objective on shares of Boot Barn in a report on Thursday, February 5th. Finally, Stephens upgraded Boot Barn from an “equal weight” rating to an “overweight” rating and set a $237.00 price target on the stock in a research report on Friday, February 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.00.

Boot Barn Stock Performance

Shares of BOOT opened at $164.26 on Thursday. Boot Barn has a 52-week low of $86.17 and a 52-week high of $210.25. The stock has a 50 day simple moving average of $187.92 and a 200 day simple moving average of $185.47. The firm has a market capitalization of $5.00 billion, a PE ratio of 23.07, a P/E/G ratio of 1.19 and a beta of 1.66.

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

Institutional Trading of Boot Barn

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Boot Barn by 132.4% during the 3rd quarter. Principal Financial Group Inc. now owns 352,816 shares of the company’s stock valued at $58,469,000 after purchasing an additional 201,026 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Boot Barn in the 3rd quarter worth about $13,407,000. GatePass Capital LLC purchased a new position in shares of Boot Barn during the third quarter valued at approximately $1,662,000. Alliance Wealth Advisors LLC UT purchased a new position in Boot Barn during the third quarter valued at $607,000. Finally, Fisher Asset Management LLC boosted its stake in Boot Barn by 4,784.7% in the 2nd quarter. Fisher Asset Management LLC now owns 165,494 shares of the company’s stock worth $25,155,000 after purchasing an additional 162,106 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.