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BTIG Reiterates Boot Barn Buy Rating

BTIG maintains Boot Barn Buy rating and $235 target after Q4 beat. Strong revenue growth and margin performance.

Olivia Taylor
ByOlivia Taylor- Senior Editor
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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.

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BTIG Reiterates Boot Barn Buy Rating | Bond.az