Boot Barn (NYSE:BOOT) Upgraded to Overweight at Stephens

Boot Barn (NYSE:BOOT) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $237.00 price target on the stock. Stephens’ price target suggests a potential upside of 25.31% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Boot Barn in a research note on Thursday, October 30th. UBS Group raised their price objective on shares of Boot Barn from $265.00 to $267.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Boot Barn in a research report on Thursday. Citigroup reissued a “buy” rating on shares of Boot Barn in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Boot Barn from $276.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.85.

Boot Barn Stock Up 3.2%

Shares of NYSE BOOT opened at $189.13 on Friday. The company has a market capitalization of $5.76 billion, a PE ratio of 26.56, a PEG ratio of 1.36 and a beta of 1.67. The stock’s 50 day moving average price is $190.56 and its 200-day moving average price is $182.29. Boot Barn has a twelve month low of $86.17 and a twelve month high of $210.25.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $2.79 EPS for the quarter, meeting analysts’ consensus estimates of $2.79. Boot Barn had a return on equity of 18.73% and a net margin of 10.10%.The company had revenue of $705.64 million during the quarter, compared to the consensus estimate of $700.71 million. During the same period last year, the business posted $2.43 earnings per share. Boot Barn’s revenue was up 16.0% on a year-over-year basis. Boot Barn has set its FY 2026 guidance at 7.250-7.350 EPS and its Q4 2026 guidance at 1.350-1.450 EPS. As a group, research analysts expect that Boot Barn will post 5.82 EPS for the current fiscal year.

Insider Activity at Boot Barn

In other news, Director Gene Eddie Burt sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $191.41, for a total value of $229,692.00. Following the completion of the transaction, the director directly owned 3,338 shares in the company, valued at approximately $638,926.58. This trade represents a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Boot Barn

A number of hedge funds and other institutional investors have recently bought and sold shares of BOOT. Royal Bank of Canada boosted its holdings in Boot Barn by 50.3% in the 1st quarter. Royal Bank of Canada now owns 34,676 shares of the company’s stock valued at $3,725,000 after purchasing an additional 11,598 shares during the period. AQR Capital Management LLC raised its position in shares of Boot Barn by 198.0% in the first quarter. AQR Capital Management LLC now owns 8,906 shares of the company’s stock worth $957,000 after buying an additional 5,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Boot Barn by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,628 shares of the company’s stock valued at $1,894,000 after buying an additional 779 shares during the period. Goldman Sachs Group Inc. grew its position in Boot Barn by 23.6% during the first quarter. Goldman Sachs Group Inc. now owns 323,664 shares of the company’s stock worth $34,771,000 after buying an additional 61,719 shares in the last quarter. Finally, United Services Automobile Association bought a new position in Boot Barn in the 1st quarter worth about $209,000.

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.