Vetr Inc. Downgrades Burlington Stores Inc (BURL) to Buy
Burlington Stores Inc (NYSE:BURL) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday. They currently have a $105.25 price target on the stock. Vetr‘s price target would indicate a potential upside of 8.45% from the stock’s current price.
A number of other research analysts have also recently commented on the stock. BMO Capital Markets reissued a “buy” rating on shares of Burlington Stores in a research report on Saturday, March 4th. William Blair reissued an “outperform” rating on shares of Burlington Stores in a research report on Wednesday, April 5th. Cowen and Company set a $103.00 target price on shares of Burlington Stores and gave the stock a “buy” rating in a research report on Saturday, April 8th. Royal Bank of Canada boosted their target price on shares of Burlington Stores from $91.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, March 3rd. Finally, Telsey Advisory Group raised shares of Burlington Stores from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $91.00 to $110.00 in a research report on Friday, March 3rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.88.
Shares of Burlington Stores (NYSE:BURL) traded up 3.90% during trading on Thursday, hitting $97.05. 1,077,427 shares of the stock traded hands. The firm has a market cap of $6.74 billion, a PE ratio of 32.24 and a beta of 0.54. The company’s 50 day moving average is $94.50 and its 200 day moving average is $85.47. Burlington Stores has a 52-week low of $51.19 and a 52-week high of $98.32.
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Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, March 2nd. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.08. Burlington Stores had a net margin of 3.48% and a negative return on equity of 193.88%. The company earned $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. Burlington Stores’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Burlington Stores will post $3.89 EPS for the current year.
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In related news, Director Paul Sullivan sold 6,959 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $94.05, for a total value of $654,493.95. Following the sale, the director now directly owns 8,107 shares of the company’s stock, valued at $762,463.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $93.00, for a total transaction of $1,860,000.00. Following the completion of the sale, the chief executive officer now directly owns 571,871 shares in the company, valued at $53,184,003. The disclosure for this sale can be found here. Insiders sold 57,627 shares of company stock worth $5,452,685 over the last ninety days. 2.21% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Burlington Stores by 2.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,290 shares of the company’s stock valued at $105,000 after buying an additional 32 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Burlington Stores during the third quarter valued at $106,000. Catalyst Capital Advisors LLC acquired a new stake in Burlington Stores during the third quarter valued at $109,000. Frontier Wealth Management LLC acquired a new stake in Burlington Stores during the fourth quarter valued at $200,000. Finally, First Republic Investment Management Inc. acquired a new stake in Burlington Stores during the fourth quarter valued at $207,000.
Burlington Stores Company Profile
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
To view Vetr’s full report, visit Vetr’s official website.
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