MKM Partners Increases Burlington Stores Inc. (BURL) Price Target to $99.00
Burlington Stores Inc. (NYSE:BURL) had its price objective lifted by investment analysts at MKM Partners from $94.00 to $99.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the stock. MKM Partners’ price objective would suggest a potential upside of 15.06% from the company’s previous close.
A number of other brokerages also recently weighed in on BURL. BMO Capital Markets raised their price objective on Burlington Stores from $69.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Zacks Investment Research raised Burlington Stores from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Wednesday, November 16th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $75.00 price objective on shares of Burlington Stores in a research report on Tuesday, September 13th. Morgan Stanley reaffirmed a “buy” rating and set a $82.00 price objective on shares of Burlington Stores in a research report on Friday, August 26th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $84.00 price target on shares of Burlington Stores in a report on Monday, August 1st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $86.91.
Shares of Burlington Stores (NYSE:BURL) traded up 5.59% on Wednesday, hitting $90.85. The company had a trading volume of 1,594,158 shares. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 38.91 and a beta of 0.47. Burlington Stores has a 52 week low of $40.89 and a 52 week high of $91.67. The stock’s 50-day moving average is $75.82 and its 200 day moving average is $72.24.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.18. Burlington Stores had a negative return on equity of 183.69% and a net margin of 3.22%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts expect that Burlington Stores will post $2.98 EPS for the current year.
In related news, insider Eric Seeger sold 20,948 shares of Burlington Stores stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $79.74, for a total transaction of $1,670,393.52. Following the completion of the transaction, the insider now directly owns 38,905 shares in the company, valued at $3,102,284.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction that occurred 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 transaction, the chief executive officer now owns 586,822 shares of the company’s stock, valued at $46,787,318.06. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BURL. Tower Research Capital LLC TRC boosted its position in shares of Burlington Stores by 2.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,290 shares of the company’s stock valued at $105,000 after buying an additional 32 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Burlington Stores during the third quarter valued at $106,000. Catalyst Capital Advisors LLC bought a new position in shares of Burlington Stores during the third quarter valued at $109,000. Advisor Group Inc. bought a new position in shares of Burlington Stores during the second quarter valued at $112,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Burlington Stores during the second quarter valued at $120,000.
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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