Boot Barn’s Strategic Positioning and Conservative Guidance Signal Potential Upside Despite Short-term Challenges

William Blair analyst Dylan Carden has maintained their bullish stance on BOOT stock, giving a Buy rating today.

Dylan Carden has given his Buy rating due to a combination of factors that suggest potential upside for Boot Barn’s stock. Despite the company reporting fiscal fourth-quarter results that fell short of consensus expectations, the management’s transparency regarding the impact of tariffs has been seen as a positive step. This transparency, coupled with a conservative guidance for fiscal 2026, is expected to restore investor confidence as the market had already anticipated a softer initial outlook.
Furthermore, Boot Barn’s broad-based business strength and ongoing momentum into the current fiscal year support a positive outlook. The company is prepared to handle price increases from third-party vendors by passing these costs onto consumers, which, while potentially softening demand, also opens opportunities for its private label and helps protect margins. Additionally, efficiencies in store payroll and normalized expenses are expected to support margins. With shares trading at a reasonable multiple and expectations for continued store expansion, there is potential for the company to exceed its conservative guidance, making the stock an attractive buy.

In another report released today, BTIG also reiterated a Buy rating on the stock with a $200.00 price target.