Burlington Stores Inc. (NYSE:BURL)‘s stock had its “buy” rating reissued by analysts at Bank of America Corp. in a research note issued to investors on Monday. They currently have a $95.00 price target on the stock, up from their prior price target of $90.00. Bank of America Corp.’s price objective points to a potential upside of 13.68% from the company’s previous close.
A number of other research firms also recently commented on BURL. Telsey Advisory Group lifted their target price on Burlington Stores from $84.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 26th. Buckingham Research lifted their target price on Burlington Stores from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Royal Bank Of Canada lifted their target price on Burlington Stores from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. MKM Partners raised Burlington Stores from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $94.00 in a report on Friday, August 26th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $82.00 target price on shares of Burlington Stores in a report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Burlington Stores currently has an average rating of “Buy” and an average price target of $85.18.
Burlington Stores (NYSE:BURL) opened at 83.57 on Monday. The firm has a 50-day moving average price of $80.87 and a 200 day moving average price of $66.48. Burlington Stores has a 1-year low of $39.40 and a 1-year high of $87.23. The company has a market capitalization of $5.90 billion, a P/E ratio of 35.79 and a beta of 0.38.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, August 25th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.09. The business earned $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Burlington Stores had a negative return on equity of 183.69% and a net margin of 3.22%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. On average, equities analysts predict that Burlington Stores will post $2.98 EPS for the current year.
In related news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $67.07, for a total transaction of $1,341,400.00. Following the completion of the sale, the chief executive officer now directly owns 644,701 shares in the company, valued at $43,240,096.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fred Hand sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $81.10, for a total value of $973,200.00. Following the sale, the executive vice president now owns 75,665 shares of the company’s stock, valued at $6,136,431.50. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.
Several hedge funds have recently modified their holdings of BURL. Advisor Group Inc. bought a new position in Burlington Stores during the second quarter worth $112,000. Fuller & Thaler Asset Management Inc. bought a new position in Burlington Stores during the second quarter worth $120,000. DIAM Co. Ltd. bought a new position in Burlington Stores during the second quarter worth $178,000. Nisa Investment Advisors LLC raised its position in Burlington Stores by 250.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,800 shares of the company’s stock worth $187,000 after buying an additional 2,000 shares during the period. Finally, Raymond James Trust N.A. bought a new position in Burlington Stores during the second quarter worth $203,000.
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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