Key Stats for Boot Barn Stock
- Price change for Boot Barn stock: 10%
- $BOOT Stock Price as of Apr. 6: $149
- 52-Week High: $210
- $BOOT Stock Price Target: $237
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What Happened?
Boot Barn (BOOT) stock jumped 10% on Monday after Jefferies upgraded the stock from Hold to Buy, setting a price target of $195.
- That implies roughly 44% upside from Friday’s closing price of $135.16.
- Jefferies analyst Corey Tarlowe argued that Boot Barn stock has been unfairly punished.
- The valuation has dropped from around 24 times earnings to just 16 times, even though the underlying business hasn’t missed a beat.
- Revenue is growing, new stores are opening on schedule, and customer demand remains solid.
- “The stock has de-rated despite continued top-line resilience, sustained new store growth, and stable fundamentals,” Tarlowe wrote.
His view is straightforward: the sell-off has created an attractive entry point, not a sign of fundamental problems.
The timing of the upgrade lines up with a strong Q3 earnings report.
- Boot Barn posted revenue of $706 million, up 16% from the prior year.
- Same-store sales grew 5.7% during the quarter.
- Online sales were even stronger, up nearly 20%.
- The company also raised its full-year guidance, now expecting earnings per share of $7.35 for fiscal 2026.
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What the Market Is Telling Us About Boot Barn Stock
Boot Barn stock had been drifting lower despite solid results, which is exactly the kind of setup that tends to attract analyst upgrades.
When a stock sells off, but the business keeps performing, the gap between price and value tends to close eventually.
The Q3 call reinforced just how well the business is running.
- CEO John Hazen noted that the first 26 days of January showed same-store sales up 9.1% before winter storms cut into results.
- Merchandise margins are also expanding, aided by growth in exclusive brands and supply chain improvements.
- The company now targets 1,200 total stores in the US, up from 514 today.
Boot Barn stock also has a shareholder-friendly capital allocation story.
- The company finished Q3 with $200 million in cash and no debt drawn on its credit line.
- It has been buying back shares under a $200 million repurchase program.
For investors, the Jefferies upgrade is a signal that Boot Barn stock may have gotten too cheap relative to where the business actually stands.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
