Boot Barn (NYSE:BOOT) Raised to “Overweight” at KeyCorp

Boot Barn (NYSE:BOOT) was upgraded by KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $190.00 price target on the stock. KeyCorp’s price objective suggests a potential upside of 12.34% from the company’s previous close. KeyCorp also issued estimates for Boot Barn’s Q4 2025 earnings at $1.22 EPS.

Several other brokerages also recently commented on BOOT. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and upped their target price for the company from $154.00 to $162.00 in a report on Friday, October 25th. Benchmark reissued a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Citigroup dropped their price target on Boot Barn from $194.00 to $178.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on Boot Barn from $181.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boot Barn currently has a consensus rating of “Buy” and an average target price of $173.00.

Boot Barn Stock Up 0.4 %

Shares of NYSE BOOT opened at $169.13 on Thursday. Boot Barn has a 12 month low of $71.54 and a 12 month high of $170.77. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 1.48 and a beta of 2.10. The business has a fifty day simple moving average of $149.86 and a 200-day simple moving average of $144.98.

Boot Barn (NYSE:BOOT) last announced its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The business had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same period in the prior year, the business posted $0.91 earnings per share. Boot Barn’s revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts expect that Boot Barn will post 5.8 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Hazen sold 6,311 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new stake in Boot Barn in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. grew its holdings in Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after buying an additional 143 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Boot Barn in the 2nd quarter valued at approximately $64,000. GAMMA Investing LLC grew its holdings in Boot Barn by 100.8% in the 3rd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock valued at $89,000 after buying an additional 268 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in Boot Barn in the 3rd quarter valued at approximately $92,000.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.