Burlington Stores Inc. (BURL) Upgraded to “Buy” at TheStreet
Burlington Stores Inc. (NYSE:BURL) was upgraded by research analysts at TheStreet from a “sell” rating to a “buy” rating in a research note issued to investors on Monday.
BURL has been the subject of several other reports. Bank of America Corp. reissued a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Burlington Stores in a research report on Monday, September 26th. Guggenheim assumed coverage on shares of Burlington Stores in a research report on Friday, September 30th. They set a “neutral” rating for the company. Buckingham Research upped their price objective on shares of Burlington Stores from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Telsey Advisory Group upped their price objective on shares of Burlington Stores from $84.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 26th. Finally, Royal Bank Of Canada upped their price objective on shares of Burlington Stores from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, August 26th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Burlington Stores has a consensus rating of “Buy” and an average target price of $85.18.
Shares of Burlington Stores (NYSE:BURL) opened at 81.39 on Monday. The firm’s 50-day moving average is $81.79 and its 200 day moving average is $67.79. Burlington Stores has a 12 month low of $39.40 and a 12 month high of $87.23. The firm has a market capitalization of $5.75 billion, a P/E ratio of 34.86 and a beta of 0.39.
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Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 25th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.30 by $0.09. The company earned $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Burlington Stores had a net margin of 3.22% and a negative return on equity of 183.69%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts anticipate that Burlington Stores will post $2.98 EPS for the current year.
In other Burlington Stores news, 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 value of $1,670,393.52. Following the sale, the insider now directly owns 38,905 shares in the company, valued at approximately $3,102,284.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $79.73, for a total transaction of $1,594,600.00. Following the completion of the sale, the chief executive officer now owns 586,822 shares in the company, valued at $46,787,318.06. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BURL. Fiera Capital Corp purchased a new stake in Burlington Stores during the second quarter valued at about $80,654,000. Samlyn Capital LLC purchased a new stake in Burlington Stores during the first quarter valued at about $62,691,000. Adage Capital Partners GP L.L.C. boosted 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 valued at $170,488,000 after buying an additional 1,016,120 shares in the last quarter. Laurion Capital Management LP boosted 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 valued at $8,452,000 after buying an additional 356,699 shares in the last quarter. Finally, Credit Suisse AG boosted 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 valued at $6,651,000 after buying an additional 279,557 shares in the last quarter.
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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