Buckingham Research Reaffirms “Buy” Rating for Burlington Stores, Inc. (BURL)
Burlington Stores, Inc. (NYSE:BURL)‘s stock had its “buy” rating reiterated by Buckingham Research in a note issued to investors on Thursday. They currently have a $107.00 price target on the stock. Buckingham Research’s price target suggests a potential upside of 19.79% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Cowen and Company set a $105.00 price objective on Burlington Stores and gave the stock a “buy” rating in a research report on Monday, August 14th. BMO Capital Markets reiterated a “buy” rating and issued a $115.00 price objective on shares of Burlington Stores in a research report on Wednesday, September 13th. Credit Suisse Group lowered Burlington Stores from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $97.00 to $89.00 in a research report on Wednesday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 price objective (up from $105.00) on shares of Burlington Stores in a research report on Friday, August 25th. Finally, BidaskClub upgraded Burlington Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company’s stock. Burlington Stores has an average rating of “Buy” and an average price target of $105.70.
Shares of Burlington Stores (BURL) traded down 0.386% during mid-day trading on Thursday, reaching $88.975. The company had a trading volume of 80,283 shares. The stock has a 50 day moving average price of $90.66 and a 200 day moving average price of $91.96. Burlington Stores has a 12-month low of $68.94 and a 12-month high of $104.07. The firm has a market capitalization of $6.06 billion, a PE ratio of 24.579 and a beta of 0.53.
Burlington Stores (NYSE:BURL) last posted its quarterly 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 negative return on equity of 330.30% and a net margin of 4.46%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $0.39 EPS. Burlington Stores’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Burlington Stores will post $4.20 earnings per share for the current year.
Burlington Stores declared that its board has authorized a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total value of $1,845,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Sullivan sold 1,722 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $88.46, for a total value of $152,328.12. Following the completion of the transaction, the director now 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 sold 88,857 shares of company stock valued at $7,828,142 in the last 90 days. Company insiders own 2.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Burlington Stores by 18.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 8,470,940 shares of the company’s stock worth $686,316,000 after purchasing an additional 1,317,448 shares during the last quarter. Vanguard Group Inc. increased its position in Burlington Stores by 3.0% during the second quarter. Vanguard Group Inc. now owns 6,555,296 shares of the company’s stock valued at $603,022,000 after acquiring an additional 193,490 shares during the last quarter. Wells Fargo & Company MN increased its position in Burlington Stores by 6.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,374,818 shares of the company’s stock valued at $187,679,000 after acquiring an additional 261,598 shares during the last quarter. Eagle Asset Management increased its position in Burlington Stores by 792.9% during the third quarter. Eagle Asset Management now owns 3,169,676 shares of the company’s stock valued at $161,780,000 after acquiring an additional 2,814,697 shares during the last quarter. Finally, BlackRock Inc. increased its position in Burlington Stores by 7,290.1% during the first quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock valued at $300,802,000 after acquiring an additional 3,049,978 shares during the last quarter.
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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