What Happened?
Shares of clothing and footwear retailer Boot Barn (NYSE: BOOT) jumped 2.6% in the afternoon session after Piper Sandler raised its price target on the stock to $229 from $220, maintaining its Overweight rating.
The research firm noted that Boot Barn showed some of the strongest fundamentals in its coverage area, which resulted in earnings per share growth of over 20%. This positive sentiment was echoed by other analysts. BTIG also increased its price target to $235, and Jefferies lifted its target to $195, both citing the company's stronger-than-expected preliminary third-quarter results. The company had exceeded its previous guidance on key metrics like sales and operating income. Additionally, Goldman Sachs had recently started coverage on the stock with a Buy rating and a $225 price target, signaling broad confidence in the retailer's performance.
The shares closed the day at $192.69, up 2.8% from previous close.
Is now the time to buy Boot Barn? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Boot Barn’s shares are very volatile and have had 23 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 11 days ago when the stock gained 5.3% on the news that the White House announced a one-year delay on planned tariff hikes for many home goods, including furniture and cabinets.
The decision kept the current 25% tariff rate in place, averting a scheduled increase to as high as 50% for items like kitchen cabinets and bathroom vanities that was set to take effect on New Year's Day. This move provided significant relief for retailers, as higher tariffs typically lead to increased costs. Companies would have faced the difficult choice of absorbing the extra expense, which hurts profitability, or passing it on to customers through higher prices, which could reduce sales. The news was met with investor optimism, sparking a rally in the sector.
Boot Barn is up 3.2% since the beginning of the year, and at $192.69 per share, it is trading close to its 52-week high of $207.98 from December 2025. Investors who bought $1,000 worth of Boot Barn’s shares 5 years ago would now be looking at an investment worth $3,306.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.
