Zacks Research Downgrades Boot Barn (NYSE:BOOT) to Hold

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

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Boot Barn in a research note on Wednesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $220.00 price target (up previously from $218.00) on shares of Boot Barn in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Boot Barn in a research note on Thursday, October 30th. The Goldman Sachs Group assumed coverage on shares of Boot Barn in a research report on Thursday, December 11th. They issued a “buy” rating and a $225.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Boot Barn from $276.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Boot Barn currently has an average rating of “Moderate Buy” and a consensus target price of $198.00.

Boot Barn Price Performance

Shares of Boot Barn stock opened at $195.98 on Monday. Boot Barn has a 1 year low of $86.17 and a 1 year high of $210.25. The company has a market capitalization of $5.97 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.61. The business has a 50-day moving average of $189.13 and a two-hundred day moving average of $178.73.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Boot Barn had a net margin of 10.05% and a return on equity of 18.11%. The firm had revenue of $505.40 million during the quarter, compared to the consensus estimate of $493.70 million. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Boot Barn has set its Q3 2026 guidance at 2.470-2.590 EPS and its FY 2026 guidance at 6.750-7.150 EPS. On average, equities analysts anticipate that Boot Barn will post 5.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gene Eddie Burt sold 1,200 shares of Boot Barn stock in a transaction on Monday, December 1st. The shares were sold at an average price of $191.41, for a total value of $229,692.00. Following the transaction, the director owned 3,338 shares in the company, valued at $638,926.58. This trade represents a 26.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Peter Starrett sold 6,498 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $190.00, for a total transaction of $1,234,620.00. Following the completion of the sale, the chairman directly owned 9,599 shares of the company’s stock, valued at $1,823,810. This represents a 40.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of the stock. ORG Partners LLC purchased a new position in Boot Barn in the 3rd quarter worth approximately $25,000. Bessemer Group Inc. grew its holdings in shares of Boot Barn by 134.2% in the second quarter. Bessemer Group Inc. now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 106 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Boot Barn by 164.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Maseco LLP purchased a new stake in Boot Barn during the 2nd quarter valued at $40,000. Finally, Salomon & Ludwin LLC purchased a new stake in Boot Barn during the 3rd quarter valued at $42,000.

About Boot Barn

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.