Burlington Stores (BURL) Given a $174.00 Price Target at MKM Partners
Burlington Stores (NYSE:BURL) has been assigned a $174.00 target price by investment analysts at MKM Partners in a research note issued on Friday. The brokerage currently has a “buy” rating on the stock. MKM Partners’ target price would indicate a potential upside of 3.93% from the stock’s previous close.
Several other equities research analysts have also commented on BURL. OTR Global initiated coverage on Burlington Stores in a research note on Tuesday, May 8th. They issued a “positive” rating for the company. Zacks Investment Research lowered Burlington Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Loop Capital set a $156.00 price objective on Burlington Stores and gave the stock a “buy” rating in a research note on Thursday, May 31st. Telsey Advisory Group upped their price objective on Burlington Stores from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, June 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $164.00 price objective on shares of Burlington Stores in a research note on Friday, June 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $165.88.
Shares of NYSE:BURL traded up $2.42 during midday trading on Friday, hitting $167.42. The company had a trading volume of 15,086 shares, compared to its average volume of 705,018. The company has a debt-to-equity ratio of 10.09, a current ratio of 1.01 and a quick ratio of 0.29. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. Burlington Stores has a 12-month low of $84.39 and a 12-month high of $172.65.
In other news, insider Fred Hand sold 6,500 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $150.78, for a total transaction of $980,070.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $159.62, for a total value of $3,192,400.00. Following the transaction, the chief executive officer now owns 322,973 shares of the company’s stock, valued at approximately $51,552,950.26. The disclosure for this sale can be found here. Insiders sold a total of 90,762 shares of company stock valued at $13,947,101 in the last quarter. 1.91% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Pendal Group Ltd grew its position in shares of Burlington Stores by 83.4% during the first quarter. Pendal Group Ltd now owns 13,604 shares of the company’s stock valued at $1,811,000 after purchasing an additional 6,188 shares in the last quarter. M&T Bank Corp grew its position in shares of Burlington Stores by 12.7% during the first quarter. M&T Bank Corp now owns 4,378 shares of the company’s stock valued at $583,000 after purchasing an additional 494 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Burlington Stores by 12.5% during the first quarter. Lord Abbett & CO. LLC now owns 500,918 shares of the company’s stock valued at $66,697,000 after purchasing an additional 55,599 shares in the last quarter. First Quadrant L P CA grew its position in shares of Burlington Stores by 7,911.6% during the second quarter. First Quadrant L P CA now owns 80,116 shares of the company’s stock valued at $12,060,000 after purchasing an additional 79,116 shares in the last quarter. Finally, Denver Investment Advisors LLC grew its position in shares of Burlington Stores by 6.8% during the first quarter. Denver Investment Advisors LLC now owns 7,163 shares of the company’s stock valued at $954,000 after purchasing an additional 456 shares in the last quarter.
About Burlington Stores
Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company offers fashion-focused merchandise, including women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, coats, and gifts, as well as baby, home, and beauty products. As of February 3, 2018, it operated 629 stores, including an Internet store in 45 states and Puerto Rico.
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