BOOT: Strong Comparable Sales And Conservative Guidance Will Support Upside Momentum

Analysts have raised their price target for Boot Barn Holdings from approximately $213 to nearly $221 per share. They cite the company’s robust quarterly results, stronger-than-expected comparable sales growth, and a promising outlook for the coming quarters.

Analyst Commentary

Analysts have reviewed Boot Barn Holdings' recent performance and future outlook, updating their perspectives based on both current results and forthcoming opportunities and challenges.

Bullish Takeaways

• Bullish analysts highlight Boot Barn's strong second quarter, with results outperforming consensus expectations and driving upward revisions to price targets.
• The company reported comparable sales growth of 8.4 percent in the second quarter. This signals robust momentum within its core business and effective execution of its growth strategy.
• Early third-quarter indicators are positive. October month-to-date comparable sales growth stands at 9.3 percent, pointing to continued demand strength.
• A cautious approach to guidance, despite optimistic recent performance, is viewed as a favorable set-up. This could lead to further positive surprises and adjusted valuations in the future.

What's in the News

• Updated earnings guidance projects third fiscal quarter sales of $688 million to $700 million, with same store sales growth of 2.5% to 4.5%, and net income per diluted share between $2.47 and $2.59. (Company Guidance)
• For the fiscal year ending March 28, 2026, Boot Barn expects total sales of $2.197 billion to $2.235 billion. This represents 15% to 17% growth over fiscal 2025, and net income per diluted share of $6.75 to $7.15. (Company Guidance)
• The company completed the repurchase of 150,753 shares for $24.94 million under its ongoing buyback program as of September 27, 2025. (Company Filing)
• Boot Barn extended its exclusive multi-year partnership with Affirm, continuing to offer buy now, pay later options online and in over 450 stores nationwide. (Company Announcement)

Valuation Changes

• The Fair Value Estimate has increased modestly from $213.29 to $220.92 per share.
• The Discount Rate has edged up slightly from 8.38% to 8.40%.
• The Revenue Growth Projection has risen from 12.48% to 13.39%.
• The Net Profit Margin Forecast has improved from 9.34% to 9.71%.
• The Future P/E Ratio has declined from 30.77x to 28.78x, reflecting a revised earnings outlook.