Burlington Stores, Inc. (NYSE:BURL)‘s stock had its “buy” rating restated by BMO Capital Markets in a research report issued on Wednesday, September 13th. They presently have a $115.00 target price on the stock. BMO Capital Markets’ price target would suggest a potential upside of 20.47% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Bank of America Corporation increased 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. Cowen and Company set a $105.00 price objective on shares of Burlington Stores and gave the company a “buy” rating in a research report on Monday, August 14th. Credit Suisse Group downgraded shares of Burlington Stores from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $97.00 to $89.00 in a research report on Wednesday, August 2nd. BidaskClub raised shares of Burlington Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Burlington Stores has an average rating of “Buy” and a consensus target price of $105.75.
Shares of Burlington Stores (NYSE:BURL) opened at 95.46 on Wednesday. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 26.37 and a beta of 0.51. The firm’s 50-day moving average price is $86.55 and its 200 day moving average price is $92.38. Burlington Stores has a 52 week low of $68.94 and a 52 week high of $104.07.
Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.22. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. On average, equities research analysts forecast that Burlington Stores will post $4.20 EPS for the current year.
Burlington Stores announced that its Board of Directors has approved a share repurchase program on Thursday, August 24th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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In related news, CEO Thomas Kingsbury sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $87.81, for a total value of $1,756,200.00. Following the completion of the sale, the chief executive officer now directly owns 495,308 shares in the company, valued at $43,492,995.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Fred Hand sold 8,000 shares of Burlington Stores stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $87.80, for a total transaction of $702,400.00. Following the transaction, the insider now directly owns 76,309 shares in the company, valued at $6,699,930.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,790 shares of company stock valued at $7,830,494. Insiders own 2.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted 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 buying an additional 193,490 shares in the last quarter. BlackRock Inc. lifted its position in shares of Burlington Stores by 7,290.1% during the first 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 in the last quarter. Voya Investment Management LLC lifted its position in shares of Burlington Stores by 23.9% during the second quarter. Voya Investment Management LLC now owns 2,879,622 shares of the company’s stock worth $264,896,000 after purchasing an additional 554,717 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Burlington Stores by 9.1% during the first quarter. Alliancebernstein L.P. now owns 1,780,974 shares of the company’s stock worth $173,271,000 after purchasing an additional 148,105 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Burlington Stores by 4.0% during the second quarter. Victory Capital Management Inc. now owns 1,468,367 shares of the company’s stock worth $135,075,000 after purchasing an additional 56,547 shares in 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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