Boot Barn (NYSE:BOOT) Stock Gets Price Target Trim from TD Cowen

Boot Barn (NYSE:BOOT) had its target price decreased by TD Cowen from $190.00 to $160.00 in a report published on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. UBS Group decreased their price objective on shares of Boot Barn from $272.00 to $232.00 and set a “buy” rating for the company in a report on Thursday. Craig Hallum cut their target price on Boot Barn from $235.00 to $224.00 and set a “buy” rating on the stock in a research note on Tuesday, September 29th. Citigroup cut their target price on Boot Barn from $205.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. BTIG Research reissued a “buy” rating and issued a $215.00 target price on shares of Boot Barn in a report on Tuesday, September 15th. Finally, Robert W. Baird decreased their price target on Boot Barn from $212.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Boot Barn currently has an average rating of “Buy” and an average target price of $204.77.

Boot Barn Stock Performance

Shares of BOOT stock opened at $115.27 on Friday. Boot Barn has a one year low of $110.53 and a one year high of $210.25. The company’s 50-day moving average is $135.25 and its 200 day moving average is $151.94. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.74 and a beta of 1.76.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.60. The business had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. Boot Barn’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business 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. As a group, research analysts predict that Boot Barn will post 9.19 earnings per share for the current fiscal year.

Institutional Trading of Boot Barn

A number of large investors have recently made changes to their positions in BOOT. BlackRock Inc. purchased a new position in shares of Boot Barn during the second quarter valued at approximately $840,629,000. Congress Asset Management Co. boosted its holdings in Boot Barn by 0.9% in the third quarter. Congress Asset Management Co. now owns 804,659 shares of the company’s stock worth $96,937,000 after purchasing an additional 7,040 shares during the last quarter. 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 worth $127,104,000 after purchasing an additional 84,250 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 purchasing an additional 349,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Boot Barn by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 645,342 shares of the company’s stock worth $94,440,000 after purchasing an additional 9,816 shares during the period.

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 including cowboy boots, work boots, jeans, shirts, hats, outerwear, belts and other accessories from a range of national and private-label brands.

Boot Barn serves customers through a network of retail stores across the United States, as well as through its e-commerce platform. Its merchandise is marketed to Western lifestyle customers, workers who need durable clothing and footwear, and consumers participating in activities such as rodeo, riding and outdoor recreation.

The company traces its beginnings to 1978 and is headquartered in Irvine, California.