Burlington Stores Inc. (BURL) Coverage Initiated by Analysts at Guggenheim
Analysts at Guggenheim assumed coverage on shares of Burlington Stores Inc. (NYSE:BURL) in a research note issued to investors on Friday. The brokerage set a “neutral” rating on the stock.
Other research analysts also recently issued research reports about the company. MKM Partners raised Burlington Stores from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $94.00 in a research note on Friday, August 26th. Goldman Sachs Group Inc. restated a “buy” rating and set a $84.00 price target on shares of Burlington Stores in a report on Monday, August 1st. Buckingham Research boosted their price target on Burlington Stores from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Morgan Stanley restated a “buy” rating and set a $82.00 price target on shares of Burlington Stores in a report on Friday, August 26th. Finally, Bank of America Corp. restated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Burlington Stores in a report on Monday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.18.
Shares of Burlington Stores (NYSE:BURL) opened at 81.62 on Friday. The firm has a market capitalization of $5.77 billion, a P/E ratio of 34.96 and a beta of 0.38. Burlington Stores has a one year low of $39.40 and a one year high of $87.23. The firm’s 50-day moving average is $81.22 and its 200 day moving average is $66.70.
Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, August 25th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The firm earned $1.26 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Equities research analysts predict that Burlington Stores will post $2.98 earnings per share for the current year.
In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $76.21, for a total transaction of $1,524,200.00. Following the transaction, the chief executive officer now directly owns 621,871 shares in the company, valued at approximately $47,392,788.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mike Metheny sold 4,000 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $82.32, for a total value of $329,280.00. Following the transaction, the insider now owns 6,281 shares in the company, valued at $517,051.92. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Advisor Group Inc. acquired a new position in Burlington Stores during the second quarter worth about $112,000. Fuller & Thaler Asset Management Inc. acquired a new position in Burlington Stores during the second quarter worth about $120,000. DIAM Co. Ltd. acquired a new position in Burlington Stores during the second quarter worth about $178,000. Nisa Investment Advisors LLC boosted its position in Burlington Stores by 250.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,800 shares of the company’s stock worth $187,000 after buying an additional 2,000 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new position in Burlington Stores during the second quarter worth about $203,000.
About Burlington Stores
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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