Burlington Stores, Inc. (BURL) Receives Average Rating of “Buy” from Analysts
Burlington Stores, Inc. (NYSE:BURL) has been assigned an average rating of “Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $105.75.
Several equities research analysts have weighed in on the company. BMO Capital Markets set a $115.00 price objective on Burlington Stores and gave the stock a “buy” rating in a research note on Thursday, June 8th. BidaskClub raised Burlington Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Deutsche Bank AG started coverage on Burlington Stores in a research note on Thursday, September 14th. They issued a “buy” rating and a $108.00 price objective for the company. Cowen and Company set a $105.00 target price on Burlington Stores and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $107.00 target price (up previously from $105.00) on shares of Burlington Stores in a report on Friday, August 25th.
In other news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction that occurred on 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 $47,478,765.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Sullivan sold 1,722 shares of Burlington Stores stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $88.46, for a total transaction of $152,328.12. Following the sale, the director now directly owns 3,441 shares of the company’s stock, valued at approximately $304,390.86. The disclosure for this sale can be found here. Insiders have sold 86,457 shares of company stock valued at $7,520,358 over the last three months. Insiders own 2.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Burlington Stores by 7,290.1% during the 1st quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock worth $300,802,000 after purchasing an additional 3,049,978 shares during the period. Balyasny Asset Management LLC raised its position in Burlington Stores by 123.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock valued at $129,570,000 after purchasing an additional 777,645 shares in the last quarter. KAMES CAPITAL plc bought a new stake in Burlington Stores during the 2nd quarter valued at $70,090,000. Vanguard Group Inc. raised its position in Burlington Stores by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 6,361,806 shares of the company’s stock valued at $618,940,000 after purchasing an additional 570,160 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Burlington Stores by 23.9% during the 2nd quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock valued at $264,896,000 after purchasing an additional 554,717 shares in the last quarter.
Shares of Burlington Stores (NYSE BURL) traded down 0.58% on Wednesday, reaching $94.56. 766,346 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $88.54 and a 200 day moving average price of $92.26. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The firm has a market cap of $6.44 billion, a PE ratio of 26.12 and a beta of 0.53.
Burlington Stores (NYSE:BURL) last posted its earnings results on Thursday, August 24th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company earned $0.39 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Burlington Stores will post $4.20 EPS for the current fiscal year.
Burlington Stores announced that its Board of Directors has initiated a share buyback plan on Thursday, August 24th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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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