Burlington Stores Inc. (BURL) Upgraded to “Buy” at TheStreet
Burlington Stores Inc. (NYSE:BURL) was upgraded by investment analysts at TheStreet from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Several other equities analysts have also issued reports on BURL. Telsey Advisory Group lifted their target price on Burlington Stores from $70.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, July 19th. BMO Capital Markets reiterated an “outperform” rating and issued a $69.00 target price on shares of Burlington Stores in a research note on Wednesday, July 20th. Morgan Stanley reissued an “overweight” rating and issued a $74.00 price target (up previously from $63.00) on shares of Burlington Stores in a report on Wednesday, July 20th. Royal Bank Of Canada raised their price target on Burlington Stores from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, July 21st. Finally, RBC Capital Markets reissued 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. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Burlington Stores presently has a consensus rating of “Buy” and an average target price of $85.18.
Shares of Burlington Stores (NYSE:BURL) traded down 0.39% on Monday, reaching $79.09. 1,094,771 shares of the company’s stock were exchanged. The company’s 50 day moving average is $81.48 and its 200-day moving average is $67.42. Burlington Stores has a one year low of $39.40 and a one year high of $87.23. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 33.87 and a beta of 0.39.
Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.09. Burlington Stores had a negative return on equity of 183.69% and a net margin of 3.22%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Burlington Stores will post $2.98 EPS for the current year.
In other news, EVP Mike Metheny sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $67.08, for a total value of $268,320.00. Following the completion of the sale, the executive vice president now directly owns 3,782 shares in the company, valued at $253,696.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $76.21, for a total value of $1,524,200.00. Following the completion of the sale, the chief executive officer now owns 621,871 shares of the company’s stock, valued at $47,392,788.91. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Aperio Group LLC acquired a new stake in Burlington Stores during the first quarter worth approximately $304,000. TIAA CREF Investment Management LLC boosted its stake in shares of Burlington Stores by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 280,188 shares of the company’s stock valued at $15,758,000 after buying an additional 3,714 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Burlington Stores during the first quarter valued at approximately $343,000. JPMorgan Chase & Co. boosted its stake in shares of Burlington Stores by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 535,310 shares of the company’s stock valued at $30,106,000 after buying an additional 8,670 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Burlington Stores during the first quarter valued at approximately $391,000.
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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