Burlington Stores (NYSE:BURL) Price Target Raised to $356.00

Burlington Stores (NYSE:BURL) had its target price raised by JPMorgan Chase & Co. from $316.00 to $356.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

BURL has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Burlington Stores in a research report on Thursday, January 8th. They set a “hold” rating and a $318.00 price target on the stock. Sanford C. Bernstein set a $350.00 price objective on Burlington Stores and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Morgan Stanley decreased their target price on Burlington Stores from $330.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. The Goldman Sachs Group set a $331.00 price target on Burlington Stores in a report on Wednesday, November 26th. Finally, TD Cowen restated a “buy” rating on shares of Burlington Stores in a research report on Wednesday, November 26th. Fifteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $338.44.

Burlington Stores Stock Performance

Shares of BURL opened at $307.47 on Monday. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 1.67 and a beta of 1.74. The company has a quick ratio of 0.46, a current ratio of 1.21 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $299.88 and its two-hundred day moving average is $281.72. Burlington Stores has a 52-week low of $212.92 and a 52-week high of $332.20.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Tuesday, November 25th. The company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.74 billion. Burlington Stores had a net margin of 5.01% and a return on equity of 41.02%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Analysts forecast that Burlington Stores will post 7.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Burlington Stores

Several institutional investors and hedge funds have recently modified their holdings of BURL. Vanguard Group Inc. boosted its position in Burlington Stores by 3.5% during the third quarter. Vanguard Group Inc. now owns 6,782,201 shares of the company’s stock valued at $1,726,070,000 after purchasing an additional 232,358 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Burlington Stores by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,828,877 shares of the company’s stock worth $817,122,000 after purchasing an additional 386,615 shares in the last quarter. State Street Corp lifted its holdings in shares of Burlington Stores by 1.2% during the 3rd quarter. State Street Corp now owns 2,184,171 shares of the company’s stock valued at $555,872,000 after buying an additional 26,529 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Burlington Stores by 303,059.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,912,936 shares of the company’s stock valued at $552,552,000 after buying an additional 1,912,305 shares in the last quarter. Finally, SRS Investment Management LLC increased its holdings in Burlington Stores by 15.9% in the second quarter. SRS Investment Management LLC now owns 1,472,137 shares of the company’s stock worth $342,478,000 after buying an additional 201,716 shares during the last quarter.

Burlington Stores Company Profile

Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company’s merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington’s merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.

The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.