Burlington Stores (BURL) Reaches New 52-Week High at $115.36

Shares of Burlington Stores, Inc. (NYSE:BURL) hit a new 52-week high during trading on Monday . The stock traded as high as $115.36 and last traded at $111.55, with a volume of 1378000 shares. The stock had previously closed at $109.32.

Several brokerages have recently issued reports on BURL. SunTrust Banks upped their target price on shares of Burlington Stores from $109.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Monday, November 27th. Cowen set a $132.00 target price on shares of Burlington Stores and gave the company a “buy” rating in a research report on Monday, December 11th. Telsey Advisory Group upped their target price on shares of Burlington Stores from $110.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Finally, Morgan Stanley upped their target price on shares of Burlington Stores from $107.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 22nd. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $110.49.

The stock has a market cap of $7,613.06, a price-to-earnings ratio of 28.38, a P/E/G ratio of 1.49 and a beta of 0.56. The company has a debt-to-equity ratio of -11.71, a quick ratio of 0.22 and a current ratio of 1.02.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. Burlington Stores had a net margin of 4.61% and a negative return on equity of 374.86%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. equities research analysts forecast that Burlington Stores, Inc. will post 4.28 earnings per share for the current fiscal year.

Burlington Stores declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 24th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other Burlington Stores news, insider Joyce Manning Magrini sold 2,400 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $94.16, for a total value of $225,984.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total transaction of $1,845,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 87,701 shares of company stock worth $8,870,690 over the last quarter. 2.60% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of BURL. Sei Investments Co. grew its stake in Burlington Stores by 20.0% in the 2nd quarter. Sei Investments Co. now owns 14,874 shares of the company’s stock worth $1,368,000 after acquiring an additional 2,478 shares in the last quarter. Cigna Investments Inc. New bought a new position in Burlington Stores in the 2nd quarter worth about $265,000. Teacher Retirement System of Texas grew its stake in Burlington Stores by 0.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,619 shares of the company’s stock worth $517,000 after acquiring an additional 41 shares in the last quarter. Legal & General Group Plc grew its stake in Burlington Stores by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 41,662 shares of the company’s stock worth $3,832,000 after acquiring an additional 1,479 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its stake in Burlington Stores by 0.4% in the 2nd quarter. Chartwell Investment Partners LLC now owns 64,496 shares of the company’s stock worth $5,933,000 after acquiring an additional 276 shares in the last quarter.

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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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