Boot Barn (NYSE:BOOT) Hits New 52-Week Low – What’s Next?

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $110.53 and last traded at $112.6320, with a volume of 991,345 shares changing hands. The stock had previously closed at $117.57.

Analyst Upgrades and Downgrades

BOOT has been the topic of a number of recent analyst reports. Zacks Research raised Boot Barn from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. BTIG Research reiterated a “buy” rating and set a $215.00 target price on shares of Boot Barn in a research note on Tuesday, September 15th. Robert W. Baird reduced their target price on shares of Boot Barn from $212.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, September 29th. Weiss Ratings upgraded Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Citigroup decreased their target price on shares of Boot Barn from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $211.25.

Boot Barn Stock Performance

The firm’s 50-day simple moving average is $141.66 and its two-hundred day simple moving average is $153.15. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.76 and a beta of 1.76.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.60. The company 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $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. Equities research analysts expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boot Barn

Several institutional investors have recently bought and sold shares of BOOT. BlackRock Inc. acquired a new stake in Boot Barn in the 2nd quarter valued at $840,629,000. Wellington Management Group LLP grew its position in shares of Boot Barn by 12.2% in the 2nd quarter. Wellington Management Group LLP now owns 773,749 shares of the company’s stock valued at $127,104,000 after acquiring an additional 84,250 shares during the period. Congress Asset Management Co. increased its position in Boot Barn by 0.9% during the third quarter. Congress Asset Management Co. now owns 804,659 shares of the company’s stock worth $96,937,000 after buying an additional 7,040 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Boot Barn by 114.6% in the first quarter. Bank of America Corp DE now owns 655,374 shares of the company’s stock valued at $95,921,000 after buying an additional 349,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Boot Barn by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 645,342 shares of the company’s stock worth $94,440,000 after acquiring an additional 9,816 shares during the last quarter.

Boot Barn Company Profile

Boot Barn Holdings, Inc is a specialty retailer focused on western and work-related apparel, footwear and accessories. The company sells products for men, women and children, including western boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and other lifestyle merchandise. Its assortment includes national brands as well as exclusive and private-label offerings.

Boot Barn serves customers through a network of retail stores across the United States and through its e-commerce platforms.