Burlington Stores, Inc. (BURL) Receives Average Recommendation of “Buy” from Brokerages
Shares of Burlington Stores, Inc. (NYSE:BURL) have been given a consensus rating of “Buy” by the nineteen ratings firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $104.28.
BURL has been the topic of a number of recent analyst reports. Bank of America Corporation boosted their target price on shares of Burlington Stores from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. 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. MKM Partners reiterated a “buy” rating and issued a $108.00 price objective (up from $104.00) on shares of Burlington Stores in a report on Tuesday, May 30th. Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th.
Burlington Stores (NYSE BURL) traded up 4.38% during mid-day trading on Tuesday, hitting $84.79. 2,556,819 shares of the company traded hands. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 26.33 and a beta of 0.51. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The company’s 50-day moving average is $86.91 and its 200-day moving average is $92.11.
Burlington Stores (NYSE:BURL) last issued its earnings results on Thursday, May 25th. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Burlington Stores had a net margin of 4.08% and a negative return on equity of 294.39%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts predict that Burlington Stores will post $3.97 EPS for the current year.
In other news, CFO Marc Katz sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $96.80, for a total value of $968,000.00. Following the completion of the sale, the chief financial officer now owns 123,555 shares of the company’s stock, valued at $11,960,124. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the business’s 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 directly 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 three months, insiders sold 69,168 shares of company stock valued at $6,272,491. 2.60% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Burlington Stores by 7,290.1% in the first quarter. BlackRock Inc. now owns 3,091,815 shares of the company’s stock worth $300,802,000 after buying an additional 3,049,978 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in Burlington Stores by 123.3% in the second quarter. Balyasny Asset Management LLC now owns 1,408,518 shares of the company’s stock valued at $129,570,000 after buying an additional 777,645 shares in the last quarter. KAMES CAPITAL plc purchased a new stake in Burlington Stores during the second quarter valued at $70,090,000. Vanguard Group Inc. boosted its stake in Burlington Stores by 9.8% in the first quarter. Vanguard Group Inc. now owns 6,361,806 shares of the company’s stock valued at $618,940,000 after buying an additional 570,160 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Burlington Stores by 23.9% in the second quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock valued at $264,896,000 after buying an additional 554,717 shares in the last quarter.
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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