Burlington Stores Inc. (BURL) Sets New 1-Year High After Better-Than-Expected Earnings
Burlington Stores Inc. (NYSE:BURL) reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $90.44 and last traded at $90.54, with a volume of 2,558,747 shares changing hands. The stock had previously closed at $86.04.
The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.18. Burlington Stores had a net margin of 3.22% and a negative return on equity of 183.69%. The company earned $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year.
A number of equities research analysts have issued reports on BURL shares. BMO Capital Markets upped their price target on shares of Burlington Stores from $69.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, August 26th. Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Wednesday, November 16th. Credit Suisse Group AG restated a “hold” rating and set a $75.00 price target on shares of Burlington Stores in a report on Tuesday, September 13th. MKM Partners upped their price target on shares of Burlington Stores from $94.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday. Finally, 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. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Burlington Stores has an average rating of “Buy” and an average target price of $86.91.
In other news, insider Mike Metheny sold 4,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $82.32, for a total transaction of $329,280.00. Following the sale, the insider now directly owns 6,281 shares of the company’s stock, valued at $517,051.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Seeger sold 20,948 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $79.74, for a total transaction of $1,670,393.52. Following the sale, the insider now directly owns 38,905 shares in the company, valued at $3,102,284.70. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in 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 during the period. Meeder Asset Management Inc. bought a new stake in Burlington Stores during the third quarter valued at approximately $106,000. Catalyst Capital Advisors LLC bought a new stake in Burlington Stores during the third quarter valued at approximately $109,000. Advisor Group Inc. bought a new stake in Burlington Stores during the second quarter valued at approximately $112,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Burlington Stores during the second quarter valued at approximately $120,000.
The company’s 50 day moving average is $76.11 and its 200-day moving average is $72.36. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 38.41 and a beta of 0.47.
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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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