Burlington Stores, Inc. (BURL) Receives Consensus Rating of “Buy” from Brokerages

Shares of Burlington Stores, Inc. (NYSE:BURL) have been given an average rating of “Buy” by the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment 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. The average 12-month price target among analysts that have covered the stock in the last year is $105.70.

Several equities research analysts have weighed in on the stock. Credit Suisse Group lowered shares of Burlington Stores from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $97.00 to $89.00 in a report on Wednesday, August 2nd. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the stock a “buy” rating in a report on Tuesday, August 8th. Buckingham Research reiterated a “buy” rating and issued a $107.00 target price on shares of Burlington Stores in a report on Thursday, October 19th. BidaskClub lowered shares of Burlington Stores from a “buy” rating to a “hold” rating in a report 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 report on Friday, August 25th.

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In related news, Director Paul Sullivan sold 1,722 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were 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 $304,390.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Fred Hand sold 8,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 76,309 shares of the company’s stock, valued at approximately $6,699,930.20. The disclosure for this sale can be found here. Insiders have sold 88,857 shares of company stock valued at $7,828,142 in the last three months. 2.60% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its stake in Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock valued at $139,000 after acquiring an additional 128 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Burlington Stores by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock valued at $208,000 after acquiring an additional 210 shares during the last quarter. Gilbert & Cook Inc. acquired a new stake in Burlington Stores in the second quarter valued at $210,000. Sciencast Management LP acquired a new stake in Burlington Stores in the second quarter valued at $231,000. Finally, Stephens Inc. AR lifted its stake in Burlington Stores by 6,389.7% in the second quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock valued at $233,000 after acquiring an additional 2,492 shares during the last quarter.

Burlington Stores (BURL) traded up 0.46% on Friday, reaching $90.87. 872,299 shares of the company’s stock were exchanged. Burlington Stores has a 12 month low of $68.94 and a 12 month high of $104.07. The firm’s 50-day moving average is $90.96 and its 200-day moving average is $91.74. The firm has a market cap of $6.19 billion, a PE ratio of 25.10 and a beta of 0.53.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The business 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%. Burlington Stores’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities analysts forecast that Burlington Stores will post $4.21 earnings per share for the current year.

Burlington Stores announced that its Board of Directors has initiated a stock buyback program on Thursday, August 24th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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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