Boot Barn (NYSE:BOOT) Stock Price Down 4% – Here’s What Happened

Boot Barn Holdings, Inc. (NYSE:BOOT) fell 4% during trading on Tuesday. The stock traded as low as $114.76 and last traded at $114.5420. 300,873 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 703,241 shares. The stock had previously closed at $119.36.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $215.00 target price on shares of Boot Barn in a research report on Tuesday, September 15th. Zacks Research raised shares of 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 decreased their price target on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Needham & Company LLC started coverage on shares of Boot Barn in a research note on Friday, October 16th. They issued a “buy” rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $206.54.

Boot Barn Price Performance

The company has a market capitalization of $3.52 billion, a PE ratio of 14.71, a PEG ratio of 0.74 and a beta of 1.76. The company has a 50 day moving average of $137.07 and a two-hundred day moving average of $152.29.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data 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. The business had revenue of $593.51 million during the quarter, compared to the consensus estimate of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 earnings per share. 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 analysts anticipate that Boot Barn Holdings, Inc. will post 9.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BOOT. CoreCap Advisors LLC boosted its stake in Boot Barn by 85.8% during the third quarter. CoreCap Advisors LLC now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 103 shares in the last quarter. OLD National Bancorp IN increased its stake in shares of Boot Barn by 8.7% during the first quarter. OLD National Bancorp IN now owns 1,556 shares of the company’s stock valued at $228,000 after purchasing an additional 125 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Boot Barn by 8.7% during the third quarter. GAMMA Investing LLC now owns 1,578 shares of the company’s stock valued at $190,000 after purchasing an additional 126 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Boot Barn by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,044 shares of the company’s stock valued at $738,000 after purchasing an additional 131 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Boot Barn by 94.4% during the third quarter. Farther Finance Advisors LLC now owns 315 shares of the company’s stock valued at $38,000 after purchasing an additional 153 shares during the last quarter.

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.