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Investing.com - UBS has reiterated its Buy rating on Boot Barn (NYSE:BOOT) with a price target of $210.00, according to a research note released Tuesday. The stock, currently trading near its 52-week high of $179.77, has delivered an impressive 37% return over the past year. According to InvestingPro analysis, the company appears overvalued at current levels, trading at a P/E ratio of 30.
The investment firm’s analysis suggests Boot Barn’s first quarter of fiscal 2026 performance was "relatively in-line" with expectations, while second quarter-to-date trends have shown solid momentum.
UBS believes Boot Barn’s second quarter-to-date comparable sales growth shows a slight acceleration from their first quarter comparable growth estimate of approximately 8%, though the firm notes this view is likely already reflected in market expectations.
The options market is pricing in an 11.0% move for Boot Barn stock around its upcoming earnings report, slightly higher than the historical average move of 10.3%, according to UBS.
UBS analyst Jay Sole indicated a "balanced upside/downside skew" for the stock heading into its earnings report, noting that trends in the final week before the company reports results will be critical for performance.
In other recent news, Boot Barn has experienced several notable developments. Piper Sandler reiterated their Overweight rating for Boot Barn, maintaining a price target of $184, following strong comparable sales growth in the first quarter, with a 10.2% increase in the first nine weeks. BTIG also reaffirmed their Buy rating and $200 target, noting the resilience of Boot Barn’s business model and improved execution as factors in their assessment. Meanwhile, Jefferies downgraded Boot Barn from Buy to Hold, citing elevated valuation levels as the primary reason for the change. KeyBanc raised its price target to $195, maintaining an Overweight rating, and highlighted the company’s conservative outlook for the year, suggesting potential upside. Citi analysts reiterated their Buy rating with a $180 price target, emphasizing strong business momentum and growth drivers, particularly in the work boots category. These recent developments reflect diverse analyst perspectives on Boot Barn’s current and future performance.
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