Burlington Stores, Inc. (BURL) Coverage Initiated at Deutsche Bank AG
Analysts at Deutsche Bank AG began coverage on shares of Burlington Stores, Inc. (NYSE:BURL) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
BURL has been the topic of several other reports. BMO Capital Markets set a $96.00 target price on shares of Burlington Stores and gave the stock a “buy” rating in a research note on Friday, May 26th. TheStreet lowered shares of Burlington Stores from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Citigroup Inc. lowered their target price on shares of Burlington Stores from $100.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 30th. Cowen and Company reissued an “outperform” rating and set a $110.00 target price on shares of Burlington Stores in a research note on Friday, June 23rd. Finally, BidaskClub lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.59.
Shares of Burlington Stores (NYSE BURL) opened at 90.81 on Thursday. Burlington Stores has a 12-month low of $68.94 and a 12-month high of $104.07. The firm’s 50-day moving average price is $86.07 and its 200-day moving average price is $92.43. The company has a market capitalization of $6.19 billion, a PE ratio of 25.09 and a beta of 0.51.
Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.22. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Burlington Stores will post $4.20 EPS for the current fiscal year.
Burlington Stores announced that its board has approved a share buyback plan on Thursday, August 24th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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In other Burlington Stores news, insider Joyce Manning Magrini sold 3,333 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $93.05, for a total value of $310,135.65. Following the completion of the sale, the insider now owns 56,882 shares in the company, valued at approximately $5,292,870.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $88.20, for a total transaction of $1,764,000.00. Following the completion of the sale, the chief executive officer now owns 538,308 shares of the company’s stock, valued at approximately $47,478,765.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,790 shares of company stock valued at $7,830,494. 2.60% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its holdings in Burlington Stores by 9.2% in the 2nd quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock valued at $139,000 after acquiring an additional 128 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Burlington Stores in the 1st quarter valued at about $204,000. The Manufacturers Life Insurance Company raised its holdings in Burlington Stores by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock valued at $208,000 after acquiring an additional 210 shares during the last quarter. Gilbert & Cook Inc. acquired a new stake in Burlington Stores in the 2nd quarter valued at about $210,000. Finally, Sciencast Management LP acquired a new stake in Burlington Stores in the 2nd quarter valued at about $231,000.
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.
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