BURL has been the topic of several other reports. Deutsche Bank AG started coverage on shares of Burlington Stores in a research note on Thursday, September 14th. They issued a buy rating and a $108.00 target price on the stock. TheStreet cut shares of Burlington Stores from a b- rating to a c+ rating in a research note on Friday, June 23rd. Cowen and Company reiterated an outperform rating and issued a $110.00 target price on shares of Burlington Stores in a research note on Friday, June 23rd. BidaskClub cut shares of Burlington Stores from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, Morgan Stanley reiterated an overweight rating and issued a $107.00 target price (up from $105.00) on shares of Burlington Stores in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. Burlington Stores presently has a consensus rating of Buy and a consensus target price of $105.70.
Burlington Stores (NYSE:BURL) opened at 89.03 on Monday. The company has a 50-day moving average of $90.74 and a 200-day moving average of $91.94. Burlington Stores has a 52 week low of $68.94 and a 52 week high of $104.07. The company has a market capitalization of $6.07 billion, a PE ratio of 24.59 and a beta of 0.53.
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 Thomson Reuters’ 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 analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Burlington Stores will post $4.20 EPS for the current year.
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Burlington Stores declared that its board has approved a stock buyback plan on Thursday, August 24th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
In related news, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the transaction, the chief executive officer now owns 518,008 shares of the company’s stock, valued at approximately $43,528,212.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joyce Manning Magrini sold 2,400 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $94.16, for a total transaction of $225,984.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,857 shares of company stock worth $7,828,142. 2.60% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in BURL. Advisor Group Inc. grew 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 worth $139,000 after acquiring an additional 128 shares during the last quarter. The Manufacturers Life Insurance Company grew 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 worth $208,000 after acquiring an additional 210 shares during the last quarter. Gilbert & Cook Inc. bought a new stake in Burlington Stores in the 2nd quarter worth $210,000. Sciencast Management LP bought a new stake in Burlington Stores in the 2nd quarter worth $231,000. Finally, Stephens Inc. AR grew its holdings in Burlington Stores by 6,389.7% in the 2nd quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock worth $233,000 after acquiring an additional 2,492 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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