Bank of America just raised its EUR/USD forecast
On Tuesday, Piper Sandler analysts reiterated their Overweight rating for Boot Barn (NYSE:BOOT) Holdings Inc. (NYSE: BOOT) stock, maintaining a price target of $184. The decision follows a recent investor presentation by Boot Barn, which highlighted strong comparable sales growth in the first quarter. According to InvestingPro data, the company, currently valued at $4.92 billion, has seen 7 analysts revise their earnings estimates upward for the upcoming period.
Boot Barn’s investor presentation, filed in an 8-K, revealed that comparable sales for the first nine weeks of the fiscal quarter are up 10.2%. This represents an acceleration from previous reports, with the last three weeks showing an increase to approximately 13%. The company has maintained strong momentum, with revenue growth of 14.64% over the last twelve months and an overall "GOOD" Financial Health Score from InvestingPro.
The analysts emphasized the impressive nature of this growth, especially given the challenging comparisons from previous periods. The recent update, along with a meeting with Boot Barn management about a week and a half ago, positions the company as a compelling earnings per share (EPS) growth story within Piper Sandler’s coverage.
Boot Barn’s current valuation, at approximately 24.5 times the next twelve months’ EPS, is considered reasonable by the analysts. They cite the company’s potential for sustainable annual EPS compound annual growth rate (CAGR) of over 20% in the coming years as a key factor in their positive outlook.
In other recent news, Boot Barn Holdings Inc. has captured significant attention with its robust financial performance and strategic outlook. The company reported a notable 10.1% increase in same-store sales for the first nine weeks of the quarter, surpassing its own guidance of 4.0-6.0% growth and exceeding analysts’ expectations of 5.8%. This strong sales performance has led analysts from Citi to maintain their Buy rating with a price target of $180, citing the company’s positive sales momentum. JPMorgan has also increased its price target for Boot Barn to $207, maintaining an Overweight rating and highlighting the potential for higher earnings per share, driven by strong same-store sales growth and margin improvements. UBS is optimistic as well, maintaining a Buy rating with a $210 price target, forecasting a 13% compound annual growth rate in earnings per share over the next five years. Piper Sandler supports this positive outlook, with an Overweight rating and a $184 price target, after discussions with Boot Barn’s management highlighted strategic initiatives for margin improvement and market appeal. BTIG also reaffirmed its Buy rating, setting a $200 price target, and noted the company’s resilience and potential for market share gains amidst tariff-related disruptions. These developments underscore a strong consensus among analysts about Boot Barn’s growth prospects and strategic positioning in the market.
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