Analyst Reiterates Buy on Boot Barn, Sees Pullback as Opportunity with Unchanged $225 Price Target

Max Rakhlenko, an analyst from TD Cowen, maintained the Buy rating on Boot Barn. The associated price target remains the same with $225.00.

Max Rakhlenko has given his Buy rating due to a combination of factors, including Boot Barn’s attractive entry point after a sharp pullback and its status as a high-quality small- to mid-cap compounder. He views the recent share price weakness as overdone relative to a solid fourth quarter setup, improving April trends despite difficult comparisons, and a still-supportive demand environment in the Western footwear and apparel category.

He also highlights favorable macro and industry read-throughs, such as strength in oil-related regions, resilient blue-collar employment, and positive signals from peers like BKE and RCKY, which reinforce confidence in Boot Barn’s sales trajectory. While acknowledging a wide range of near-term comp expectations and the likelihood of conservative guidance, he believes management’s outlook for FY27, combined with potential for beat-and-raise dynamics, supports robust long-term EPS growth, justifying a reiterated $225 price target and Buy rating.

In another report released on May 4, Citi also maintained a Buy rating on the stock with a $169.00 price target.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BOOT in relation to earlier this year.