Boot Barn (NYSE:BOOT) Stock Gets Price Target Cut from Robert W. Baird

Boot Barn (NYSE:BOOT) had its price objective decreased by Robert W. Baird from $160.00 to $145.00 in a research note issued to investors on Thursday, Marketbeat reports. Robert W. Baird currently has an outperform rating on the stock.

BOOT has been the topic of several other research reports. Needham & Company LLC started coverage on Boot Barn in a report on Friday, October 16th. They set a “buy” rating and a $150.00 target price on the stock. Stephens increased their price target on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. TD Cowen decreased their price target on Boot Barn from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings downgraded Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, UBS Group lowered their price target on Boot Barn from $272.00 to $232.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.46.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $131.77 on Thursday. The company’s 50-day moving average price is $131.15 and its two-hundred day moving average price is $158.33. Boot Barn has a one year low of $110.53 and a one year high of $210.25. The stock has a market capitalization of $3.94 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 0.87 and a beta of 1.76.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.10. The company had revenue of $581.81 million during the quarter, compared to the consensus estimate of $580.80 million. Boot Barn had a net margin of 10.45% and a return on equity of 18.82%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 EPS. On average, analysts anticipate that Boot Barn will post 8.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Boot Barn during the 2nd quarter worth $840,629,000. Congress Asset Management Co. boosted its stake in Boot Barn by 0.9% in the third quarter. Congress Asset Management Co. now owns 804,659 shares of the company’s stock valued at $96,937,000 after buying an additional 7,040 shares in the last quarter. Wellington Management Group LLP boosted its stake in Boot Barn by 12.2% in the second quarter. Wellington Management Group LLP now owns 773,749 shares of the company’s stock valued at $127,104,000 after buying an additional 84,250 shares in the last quarter. Bank of America Corp DE grew its position 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 valued at $95,921,000 after acquiring 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 first quarter. Dimensional Fund Advisors LP now owns 645,342 shares of the company’s stock valued at $94,440,000 after acquiring an additional 9,816 shares during the last quarter.

Boot Barn News Summary

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn exceeded quarterly EPS expectations, with earnings of approximately $1.68 per share versus the $1.63 consensus estimate. Margin gains and year-over-year profit growth helped offset weaker-than-expected sales. BOOT Q2 Earnings Beat Estimates on Margin Gains, Sales Miss
• Positive Sentiment: The retailer raised its store expansion ambitions, planning to open 75 to 80 new locations in fiscal 2027. Management also highlighted Boot Barn Workforce, which generated about $100 million in commercial sales last fiscal year, supporting the longer-term growth narrative. Boot Barn outlines fiscal 2027 outlook
• Positive Sentiment: Boot Barn authorized an additional $400 million for share repurchases, potentially providing support for earnings per share and signaling confidence in the company’s financial position. Boot Barn announces results and share repurchase authorization
• Neutral Sentiment: Robert W. Baird maintained an “outperform” rating but reduced its price target from $160 to $145, while Zacks downgraded the stock to “hold.” The mixed analyst actions reflect stronger near-term profitability but more cautious growth expectations.
• Negative Sentiment: Fiscal third-quarter guidance calls for EPS of $3.03–$3.19 and revenue of $785 million–$802 million, below analyst expectations of $3.42 and $816.2 million, respectively.
• Negative Sentiment: Fiscal 2027 EPS guidance was reduced to $8.72–$9.00, below the $9.02 consensus. Although projected revenue of approximately $2.6 billion matches expectations, the lower profit outlook suggests pressure from sales trends, costs, or investment in expansion. Boot Barn posts higher profit and trims guidance

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 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.