Massar Capital Management LP Makes New Investment in Boot Barn Holdings, Inc. (NYSE:BOOT)

Massar Capital Management LP acquired a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,749 shares of the company’s stock, valued at approximately $1,025,000. Boot Barn comprises approximately 1.2% of Massar Capital Management LP’s investment portfolio, making the stock its 28th biggest position.

A number of other large investors also recently modified their holdings of BOOT. Dale Q Rice Investment Management Ltd bought a new stake in Boot Barn in the fourth quarter worth $1,544,000. Stephens Investment Management Group LLC purchased a new position in shares of Boot Barn in the fourth quarter worth about $46,699,000. Alberta Investment Management Corp bought a new stake in shares of Boot Barn in the 4th quarter valued at about $2,842,000. Charles Schwab Investment Management Inc. boosted its holdings in Boot Barn by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock valued at $54,439,000 after acquiring an additional 5,881 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Boot Barn by 56.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,305 shares of the company’s stock worth $23,638,000 after acquiring an additional 51,032 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Craig Hallum set a $178.00 price objective on Boot Barn in a research note on Friday, January 31st. UBS Group dropped their target price on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Robert W. Baird reduced their price target on Boot Barn from $190.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. KeyCorp upgraded Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.62.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $89.50 on Tuesday. The company has a 50 day simple moving average of $109.46 and a two-hundred day simple moving average of $135.42. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. On average, analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.