Piper Sandler lowered its price target on Boot Barn Holdings Inc. (NYSE:BOOT) to $226 from $230, maintaining an Overweight rating.
The update follows Boot Barn's fourth-quarter results and fiscal 2027 guidance. The company posted comparable sales growth that beat expectations in Q4.
Boot Barn's first quarter is off to a solid start, with comparable sales up 5% through the first six weeks. Sales strength is broad-based across categories.
The retailer has not observed weakness across income cohorts despite higher gas prices. Fiscal 2027 guidance calls for EPS growth of up to 18% at the high end, versus an average of 24% over the past two years.
Boot Barn shares have fallen 17% year-to-date trading at $149.11 with a P/E of 20.79. The stock trades at a low P/E relative to near-term earnings growth with a PEG ratio of 0.83. The company has initiatives to drive comparable sales growth and product margin expansion.
In other news, Boot Barn reported fiscal Q4 2026 earnings that beat expectations: EPS $1.45 vs. $1.43 estimate, revenue $539M vs. $533.1M. BTIG reiterated a Buy rating and $235 target. Williams Trading cut its target to $202 from $236 but maintained a Buy rating.
