Boot Barn (NYSE:BOOT) Stock Price Target Lowered at Craig Hallum

Boot Barn (NYSE:BOOT) had its price target lowered by Craig Hallum from $235.00 to $224.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 84.46% from the stock’s current price.

A number of other brokerages have also recently issued reports on BOOT. Weiss Ratings cut shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. BTIG Research reiterated a “buy” rating and set a $215.00 target price on shares of Boot Barn in a research report on Tuesday, September 15th. UBS Group set a $225.00 target price on shares of Boot Barn in a research note on Wednesday, June 17th. Stephens increased their price target on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Robert W. Baird cut their price target 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $215.58.

Boot Barn Price Performance

Shares of BOOT traded down $4.72 on Tuesday, reaching $121.44. 58,163 shares of the stock traded hands, compared to its average volume of 699,378. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.79 and a beta of 1.70. Boot Barn has a 12 month low of $119.21 and a 12 month high of $210.25. The stock’s 50-day moving average price is $149.71 and its 200-day moving average price is $156.51.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.60. The business had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.Boot Barn’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior 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. As a group, equities research analysts forecast that Boot Barn will post 9.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Boot Barn by 4.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,858 shares of the company’s stock worth $962,000 after purchasing an additional 271 shares during the last quarter. WINTON GROUP Ltd bought a new position in Boot Barn during the 2nd quarter valued at about $468,000. Integrated Wealth Concepts LLC acquired a new position in Boot Barn in the second quarter valued at about $46,000. Allworth Financial LP boosted its position in Boot Barn by 160.2% in the second quarter. Allworth Financial LP now owns 346 shares of the company’s stock valued at $57,000 after buying an additional 213 shares in the last quarter. Finally, Nykredit A S bought a new stake in Boot Barn during the second quarter worth about $238,000.

About Boot Barn

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.