Analysts have raised Boot Barn’s average price target from $212.73 a year ago to $231 most recently, reflecting a 28.5% potential upside. Over the past quarter, the target climbed from $229.80 to $231, signaling growing confidence in the company’s expansion of retail locations and enhancements to its e-commerce platform. This upward revision trajectory underscores expectations for sustained revenue growth and continued market share gains in the western and workwear segments.

In the third quarter, WCM Investment Management reduced its position in Boot Barn by 23.0%, disposing of 36,753 shares and ending the period with 123,038 shares valued at approximately $20.41 million (0.40% of the company). Conversely, Principal Financial Group increased its holdings by 132.4% to 352,816 shares worth $58.47 million, and Thrivent Financial for Lutherans added 22,290 shares (a 6.0% rise) to reach 390,957 shares valued at $64.79 million. Smaller moves include AlphaQuest’s new $250,000 entry and a 1.4% boost by Arizona State Retirement System to 9,053 shares.

Recent research reports show broad bullishness: Jefferies upgraded its target from $180 to $195 with a Hold rating; Citigroup raised its objective from $225 to $230 and maintained a Buy rating; Piper Sandler increased its target to $229 with an Overweight endorsement; and JPMorgan Chase raised its price objective from $276 to $282, also with an Overweight view. Out of 15 broker reports, 11 carry Buy recommendations and 4 Hold, producing a consensus Moderate Buy rating and an average target of $206.08.