Burlington Stores Inc. (BURL) Rating Reiterated by BMO Capital Markets
Burlington Stores Inc. (NYSE:BURL)‘s stock had its “outperform” rating restated by research analysts at BMO Capital Markets in a research note issued on Wednesday. They currently have a $96.00 price target on the stock. BMO Capital Markets’ price target suggests a potential upside of 16.56% from the company’s current price.
BURL has been the topic of several other research reports. Credit Suisse Group AG reiterated a “hold” rating and issued a $75.00 price target on shares of Burlington Stores in a report on Tuesday, September 13th. Morgan Stanley reiterated a “buy” rating and issued a $82.00 price target on shares of Burlington Stores in a report on Friday, August 26th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $84.00 price target on shares of Burlington Stores in a report on Monday, August 1st. RBC Capital Markets reiterated an “outperform” rating and issued a $82.00 price target (up previously from $66.00) on shares of Burlington Stores in a report on Friday, July 22nd. Finally, MKM Partners upgraded Burlington Stores from a “neutral” rating to a “buy” rating and raised their price target for the company from $73.00 to $94.00 in a report on Friday, August 26th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $85.18.
Burlington Stores (NYSE:BURL) traded down 1.45% during trading on Wednesday, reaching $82.36. The company’s stock had a trading volume of 697,528 shares. Burlington Stores has a 52 week low of $39.40 and a 52 week high of $87.23. The stock’s 50 day moving average is $80.87 and its 200-day moving average is $66.48. The firm has a market cap of $5.82 billion, a P/E ratio of 35.27 and a beta of 0.38.
Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, August 25th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.30 by $0.09. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Burlington Stores had a negative return on equity of 183.69% and a net margin of 3.22%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. On average, equities research analysts forecast that Burlington Stores will post $2.98 earnings per share for the current fiscal year.
In related news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $67.07, for a total value of $1,341,400.00. Following the sale, the chief executive officer now owns 644,701 shares of the company’s stock, valued at approximately $43,240,096.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mike Metheny sold 4,000 shares of Burlington Stores stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $82.32, for a total value of $329,280.00. Following the completion of the sale, the insider now directly owns 6,281 shares in the company, valued at approximately $517,051.92. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in BURL. Fiera Capital Corp purchased a new stake in shares of Burlington Stores during the second quarter worth about $80,654,000. Samlyn Capital LLC purchased a new stake in shares of Burlington Stores during the first quarter worth about $62,691,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Burlington Stores by 50.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,031,434 shares of the company’s stock worth $170,488,000 after buying an additional 1,016,120 shares in the last quarter. Laurion Capital Management LP raised its stake in shares of Burlington Stores by 155.1% in the second quarter. Laurion Capital Management LP now owns 126,699 shares of the company’s stock worth $8,452,000 after buying an additional 356,699 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Burlington Stores by 155.4% in the second quarter. Credit Suisse AG now owns 99,683 shares of the company’s stock worth $6,651,000 after buying an additional 279,557 shares in the last quarter.
Burlington Stores Company Profile
Burlington Stores, Inc is a retailer of branded apparel. The Company has approximately 570 stores, inclusive of an Internet store, in over 45 states of the United States and Puerto Rico, and diversified its product categories by offering a selection of in-season, fashion-focused merchandise, including: women’s ready-to-wear apparel, menswear, youth apparel, baby, footwear, accessories, home and coats.
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