Boot Barn Holdings

BOOT · NYSE

$115.35−$4.01 (−3.36%)TodayMarket closed · Oct 20, 7:31 PM ET

Prev close $119.36

BOOT analyst rating

BuyConsensus of 14 analysts over the last 12 months. 93% rate it a buy.

Strong buy0
Buy13
Hold1
Underperform0
Sell0

12-month price target · 17 analysts

Average $218.91 (+89.8% upside)

Low: $161.60
Now: $115.35
High: $296.10

Upgrades and downgrades

The latest rating actions, newest first

BOOT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Oct 16, 2026	Initiates	Buy	$150.00	46%
Citigroup	Oct 13, 2026	Maintains	Buy	$205.00 → $180.00	44%
Craig-Hallum	Sep 29, 2026	Maintains	Buy	$235.00 → $224.00	56%
Baird	Sep 29, 2026	Maintains	Outperform	$212.00 → $160.00	49%
BTIG	Sep 15, 2026	Maintains	Buy	$215.00	51%
Stephens & Co.	Aug 10, 2026	Maintains	Overweight	$196.00 → $207.00	54%
TD Cowen	Jul 30, 2026	Maintains	Buy	$225.00 → $190.00	54%
BTIG	Jul 30, 2026	Maintains	Buy	$235.00 → $215.00	51%
BTIG	Jul 27, 2026	Maintains	Buy	$235.00	51%
TD Cowen	Jun 4, 2026	Maintains	Buy	$225.00	54%

The case for and against

Updated Oct 14, 2026

Bull case

Boot Barn Holdings is supported by a durable growth algorithm driven by mid-teens unit expansion, with 11 new stores opened QTD as of 9/14 and 27 added in F1Q27, leaving 566 locations across 49 states and a path toward 1,200 stores. Fundamentals are also improving, as F'Q2 comps are tracking toward the high end of flat to 2%, sales are expected near $582M at the top of guidance, and EPS near $1.64-$1.65, while merchandise margin has expanded on better product mix, tariff refunds, and stronger full-price selling. Its need-based assortment, strong work category momentum, and relatively stable margins make the business less exposed to fashion risk, supporting double-digit EBITDA and EPS growth with attractive valuation versus peers and historical averages.

Bear case

Boot Barn Holdings is facing a deteriorating fundamental setup as gross margins are only expected to be roughly flat YoY in F'27 before contracting by more than 100 bps in F'28, with promotion intensity rising to defend share against online competitors and weaker exclusive-brand penetration. Its reliance on discretionary western and work apparel leaves results exposed to macro headwinds, employment and consumer-confidence softness, while tariff, freight, labor, and vendor-cost pressures can further squeeze profitability. The company also faces downside from slower new-store ramping or cannibalization across its approximately 539 stores in 49 states, plus digital execution risk and potential erosion in private-label contribution.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.