Burlington Stores Inc. (NYSE:BURL) was upgraded by investment analysts at TheStreet from a “sell” rating to a “buy” rating in a research note issued to investors on Monday.
Other analysts have also issued reports about the company. 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 research report on Friday, August 26th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $84.00 price objective on shares of Burlington Stores in a report on Monday, August 1st. Buckingham Research boosted their price objective on Burlington Stores from $82.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 26th. Morgan Stanley reissued a “buy” rating and issued a $82.00 price objective on shares of Burlington Stores in a report on Friday, August 26th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Burlington Stores in a report on Monday, September 26th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $85.18.
Burlington Stores (NYSE:BURL) traded down 0.39% during trading on Monday, reaching $79.09. The company had a trading volume of 1,094,771 shares. The company has a market capitalization of $5.59 billion, a P/E ratio of 33.87 and a beta of 0.39. Burlington Stores has a 12 month low of $39.40 and a 12 month high of $87.23. The firm’s 50 day moving average is $81.48 and its 200-day moving average is $67.42.
Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, August 25th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.09. Burlington Stores had a negative return on equity of 183.69% and a net margin of 3.22%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Burlington Stores will post $2.98 earnings per share for the current year.
In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $76.21, for a total value of $1,524,200.00. Following the completion of the sale, the chief executive officer now directly owns 621,871 shares in the company, valued at $47,392,788.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fred Hand sold 12,000 shares of the company’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 completion of 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. Insiders own 2.21% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new stake in Burlington Stores during the second quarter worth $80,654,000. Samlyn Capital LLC purchased a new stake in Burlington Stores during the first quarter worth $62,691,000. Adage Capital Partners GP L.L.C. increased its stake in Burlington Stores by 50.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,031,434 shares of the company’s stock worth $170,488,000 after buying an additional 1,016,120 shares during the period. Laurion Capital Management LP increased its stake in Burlington Stores by 155.1% in the second quarter. Laurion Capital Management LP now owns 126,699 shares of the company’s stock worth $8,452,000 after buying an additional 356,699 shares during the period. Finally, Credit Suisse AG increased its stake in Burlington Stores by 155.4% in the second quarter. Credit Suisse AG now owns 99,683 shares of the company’s stock worth $6,651,000 after buying an additional 279,557 shares during the period.
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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