BTIG reiterated a Buy rating and $235 price target on Boot Barn (NYSE:BOOT) after strong Q4 results that beat consensus.
Revenue grew 17.5% year-over-year, with gross margin at 38.32%. Comparable sales remain up mid-single digits quarter-to-date.
CEO John Hazen's initiatives in sourcing, exclusive brands, e-commerce, and work business are exceeding expectations.
Boot Barn shares dropped nearly 20% YTD, but BTIG notes valuation is below historical averages for a retailer with mid-teens unit growth and strong margins.












