Boot Barn (NYSE:BOOT) Stock Price Down 6.4% – Here’s What Happened

Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) fell 6.4% during mid-day trading on Monday . The stock traded as low as $164.13 and last traded at $166.27. Approximately 353,044 shares were traded during mid-day trading, a decline of 50% from the average session volume of 712,127 shares. The stock had previously closed at $177.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BOOT shares. TD Cowen reiterated a “buy” rating on shares of Boot Barn in a research note on Wednesday, June 17th. Piper Sandler decreased their target price on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Bank of America dropped their target price on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a report on Friday, May 15th. Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research report on Monday, April 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $226.92.

Boot Barn Price Performance

The stock has a 50-day moving average price of $164.17 and a 200-day moving average price of $173.69. The company has a market capitalization of $4.93 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.15 and a beta of 1.70.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.02. The firm had revenue of $538.75 million during the quarter, compared to analyst estimates of $531.43 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. Sell-side analysts anticipate that Boot Barn Holdings, Inc. will post 8.55 EPS for the current fiscal year.

Institutional Trading of Boot Barn

A number of large investors have recently bought and sold shares of BOOT. Principal Financial Group Inc. lifted its stake in shares of Boot Barn by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 393,098 shares of the company’s stock worth $69,370,000 after purchasing an additional 40,282 shares during the last quarter. UBS Group AG grew its stake in Boot Barn by 16.4% in the fourth quarter. UBS Group AG now owns 172,380 shares of the company’s stock valued at $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in Boot Barn in the fourth quarter worth about $2,644,000. Fieldview Capital Management LLC raised its holdings in Boot Barn by 1,197.6% in the third quarter. Fieldview Capital Management LLC now owns 17,634 shares of the company’s stock worth $2,922,000 after purchasing an additional 16,275 shares in the last quarter. Finally, TD Asset Management Inc purchased a new stake in shares of Boot Barn during the third quarter valued at about $1,160,000.

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.