Burlington Stores Inc. (BURL) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Burlington Stores Inc. (NYSE:BURL) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $84.00 price target on the stock.
According to Zacks, “Burlington Stores, Inc. operates as an off-price apparel and home product retailer. It provides its customers with a selection of fashionable branded product in women’s ready-to-wear apparel, menswear, youth apparel, baby products, footwear, accessories, home goods and coats. The Company operates within the United States and Puerto Rico. Burlington Stores, Inc. is headquartered in Burlington, New Jersey. “
A number of other analysts have also recently commented on the company. TheStreet upgraded Burlington Stores from a sell rating to a buy rating in a research report on Monday, October 3rd. Guggenheim began coverage on Burlington Stores in a research report on Friday, September 30th. They issued a neutral rating for the company. BMO Capital Markets reiterated an outperform rating and set a $96.00 target price on shares of Burlington Stores in a research report on Wednesday, September 28th. Bank of America Corp. reiterated a buy rating and set a $95.00 target price (up previously from $90.00) on shares of Burlington Stores in a research report on Monday, September 26th. Finally, Credit Suisse Group AG reiterated a hold rating and set a $75.00 target price on shares of Burlington Stores in a research report on Tuesday, September 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $86.24.
Burlington Stores (NYSE:BURL) traded down 0.75% during mid-day trading on Wednesday, reaching $76.62. The company had a trading volume of 253,030 shares. The firm has a 50-day moving average of $76.06 and a 200 day moving average of $71.49. Burlington Stores has a 1-year low of $40.58 and a 1-year high of $87.23. The company has a market capitalization of $5.41 billion, a PE ratio of 32.81 and a beta of 0.47.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, August 25th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.09. The business earned $1.26 billion during 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 quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, analysts predict that Burlington Stores will post $2.98 earnings per share for the current fiscal year.
In other news, CFO Marc Katz sold 10,000 shares of Burlington Stores stock in a transaction on Monday, August 29th. The stock was sold at an average price of $81.00, for a total value of $810,000.00. Following the transaction, the chief financial officer now directly owns 102,465 shares in the company, valued at approximately $8,299,665. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $79.73, for a total value of $1,594,600.00. Following the completion of the transaction, the chief executive officer now owns 586,822 shares in the company, valued at $46,787,318.06. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its position in shares of Burlington Stores by 4.8% in the second quarter. Jennison Associates LLC now owns 2,830,711 shares of the company’s stock valued at $188,837,000 after buying an additional 129,111 shares during the period. Eagle Asset Management Inc. increased its position in shares of Burlington Stores by 11.6% in the second quarter. Eagle Asset Management Inc. now owns 2,204,169 shares of the company’s stock valued at $147,040,000 after buying an additional 229,805 shares during the period. Victory Capital Management Inc. increased its position in shares of Burlington Stores by 481.7% in the third quarter. Victory Capital Management Inc. now owns 1,263,253 shares of the company’s stock valued at $102,349,000 after buying an additional 1,046,075 shares during the period. Fiera Capital Corp acquired a new position in shares of Burlington Stores during the second quarter valued at $80,654,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Burlington Stores during the third quarter valued at $88,045,000.
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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