Boot Barn (NYSE:BOOT) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Boot Barn (NYSE:BOOT) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks reports.

A number of other brokerages also recently issued reports on BOOT. Citigroup cut their target price on Boot Barn from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. Stephens lifted their price target on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. TD Cowen lowered their price target on shares of Boot Barn from $190.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Finally, Craig Hallum dropped their price objective on shares of Boot Barn from $235.00 to $224.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.77.

Boot Barn Price Performance

BOOT stock opened at $113.32 on Tuesday. The business has a 50 day simple moving average of $132.49 and a 200-day simple moving average of $159.01. The firm has a market capitalization of $3.43 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.74 and a beta of 1.76. Boot Barn has a 1 year low of $110.53 and a 1 year high of $210.25.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.63 by $0.10. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%. The firm had revenue of $581.81 million during the quarter, compared to analysts’ expectations of $580.80 million. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts expect that Boot Barn will post 9.19 EPS for the current year.

Hedge Funds Weigh In On Boot Barn

Several hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC boosted its position in shares of Boot Barn by 85.8% in the 3rd quarter. CoreCap Advisors LLC now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 103 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new position in Boot Barn during the third quarter worth approximately $27,000. Signaturefd LLC increased its position in Boot Barn by 183.3% during the third quarter. Signaturefd LLC now owns 255 shares of the company’s stock worth $31,000 after buying an additional 165 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Boot Barn during the second quarter worth approximately $33,000. Finally, Farther Finance Advisors LLC lifted its stake in Boot Barn by 94.4% in the third quarter. Farther Finance Advisors LLC now owns 315 shares of the company’s stock valued at $38,000 after buying an additional 153 shares during the last quarter.

Key Headlines Impacting Boot Barn

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

• Positive Sentiment: Boot Barn earned $1.73 per diluted share, exceeding the $1.63 analyst consensus and rising 26.3% from $1.37 a year earlier. Revenue increased 15.1% year over year to $581.8 million, slightly above expectations. Boot Barn Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Profitability and cash generation improved: gross profit rose 17.6% to $216.5 million, operating profit reached $70.2 million, and operating cash flow grew 55% to $39.9 million. These results suggest the company is benefiting from sales growth and operating leverage. Boot Barn Q2 2027 Earnings
• Positive Sentiment: The board authorized an additional $400 million for share repurchases, which could support per-share earnings and signal management’s confidence in the valuation after the stock’s recent decline. Boot Barn Announces Q2 Results and Repurchase Authorization
• Neutral Sentiment: Management’s earnings call focused investor attention on store expansion, workwear demand, margins and the company’s updated fiscal-year plans. The market is weighing strong current performance against more cautious forward expectations. Boot Barn Q2 2027 Earnings Call Transcript
• Negative Sentiment: Boot Barn cut its fiscal-year outlook despite the quarterly beat. Lower projected revenue or earnings increases uncertainty over the pace of demand and likely explains why investors remain cautious. Boot Barn Cuts Fiscal-Year Outlook

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.