Stephens Lifts Boot Barn Target to $237 as Q3 Sales Rise 16%
Stephens upgraded Boot Barn to Overweight from Equal Weight on February 6, raising its price target to $237 from $196. Bank of America upped its target to $240 and noted Q3 revenue of $705.6 million, same-store sales climbed 16%, diluted EPS reached $2.79 and margins expanded 110 basis points.
1. Analyst Upgrades and Price Targets
Stephens raised its rating on Boot Barn to Overweight from Equal Weight on February 6 and lifted its price target to $237 from $196, highlighting management’s earnings growth model and consumer tailwinds. Bank of America followed with a Buy rating and a price target increase to $240.
2. Third-Quarter Financial Results
Boot Barn reported Q3 revenue of $705.643 million, slightly above consensus, with year-over-year sales up 16% and same-store sales rising robustly. Diluted EPS reached $2.79 and merchandise margin expanded by 110 basis points, driven by strength across categories, channels and regions.
3. Fiscal 2026 Revenue Guidance
Management issued fiscal 2026 revenue guidance of $2.24 billion to $2.25 billion, matching consensus expectations and reflecting confidence in continued growth across its specialty western and work-wear retail portfolio.