Burlington Stores, Inc. (BURL) Cut to “Hold” at BidaskClub
Burlington Stores, Inc. (NYSE:BURL) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
BURL has been the subject of a number of other research reports. Vetr lowered shares of Burlington Stores from a “strong-buy” rating to a “buy” rating and set a $99.50 price objective for the company. in a report on Monday, February 27th. Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a report on Friday, February 17th. BMO Capital Markets set a $96.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a report on Friday, May 26th. Wolfe Research started coverage on shares of Burlington Stores in a report on Friday, April 28th. They issued an “outperform” rating and a $113.00 price objective for the company. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $103.00 price objective (up previously from $90.50) on shares of Burlington Stores in a report on Saturday, March 4th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $103.52.
Burlington Stores (BURL) traded down 0.17% during midday trading on Thursday, hitting $97.39. 826,591 shares of the stock traded hands. The firm has a market cap of $6.73 billion, a PE ratio of 30.22 and a beta of 0.53. Burlington Stores has a 52-week low of $60.62 and a 52-week high of $104.07. The stock has a 50-day moving average of $98.50 and a 200 day moving average of $91.59.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. Burlington Stores had a net margin of 4.08% and a negative return on equity of 294.39%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Burlington Stores’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Burlington Stores will post $3.97 EPS for the current year.
In other news, insider Fred Hand sold 12,500 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $100.47, for a total transaction of $1,255,875.00. Following the sale, the insider now owns 80,809 shares of the company’s stock, valued at $8,118,880.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joyce Manning Magrini sold 3,333 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $96.44, for a total transaction of $321,434.52. Following the sale, the insider now directly owns 65,213 shares in the company, valued at approximately $6,289,141.72. The disclosure for this sale can be found here. Insiders have sold 45,833 shares of company stock worth $4,471,110 in the last three months. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds have recently modified their holdings of BURL. Highbridge Capital Management LLC acquired a new stake in shares of Burlington Stores during the fourth quarter valued at about $10,987,000. Guggenheim Capital LLC boosted its stake in shares of Burlington Stores by 12.9% in the fourth quarter. Guggenheim Capital LLC now owns 22,875 shares of the company’s stock valued at $1,939,000 after buying an additional 2,613 shares in the last quarter. Allianz Asset Management AG boosted its stake in shares of Burlington Stores by 15.7% in the fourth quarter. Allianz Asset Management AG now owns 130,018 shares of the company’s stock valued at $11,019,000 after buying an additional 17,655 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Burlington Stores during the fourth quarter valued at about $7,042,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Burlington Stores during the fourth quarter valued at about $11,663,000.
About Burlington Stores
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.
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