BMO Capital Markets Reaffirms “Buy” Rating for Burlington Stores, Inc. (BURL)
Burlington Stores, Inc. (NYSE:BURL)‘s stock had its “buy” rating restated by analysts at BMO Capital Markets in a note issued to investors on Wednesday. They presently have a $115.00 target price on the stock. BMO Capital Markets’ price target suggests a potential upside of 28.52% from the company’s previous close.
A number of other research analysts have also weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $107.00 price objective (up previously from $105.00) on shares of Burlington Stores in a report on Friday, August 25th. Cowen and Company set a $105.00 price target on Burlington Stores and gave the stock a “buy” rating in a report on Monday, August 14th. Credit Suisse Group lowered Burlington Stores from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $97.00 to $89.00 in a report on Wednesday, August 2nd. BidaskClub lowered Burlington Stores from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet lowered Burlington Stores from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $105.59.
Burlington Stores (BURL) traded up 2.15% on Wednesday, reaching $91.40. 829,438 shares of the company’s stock were exchanged. Burlington Stores has a one year low of $68.94 and a one year high of $104.07. The firm has a market cap of $6.23 billion, a PE ratio of 25.25 and a beta of 0.51. The firm has a 50 day moving average price of $85.94 and a 200 day moving average price of $92.42.
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 analysts’ consensus estimates 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 negative return on equity of 330.30% and a net margin of 4.46%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. On average, equities analysts anticipate that Burlington Stores will post $4.20 earnings per share for the current year.
Burlington Stores announced that its Board of Directors has initiated a share repurchase program on Thursday, August 24th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, Director Paul Sullivan sold 1,722 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $88.46, for a total transaction of $152,328.12. Following the completion of the sale, the director now directly owns 3,441 shares of the company’s stock, valued at approximately $304,390.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $88.20, for a total value of $1,764,000.00. Following the sale, the chief executive officer now directly owns 538,308 shares of the company’s stock, valued at $47,478,765.60. The disclosure for this sale can be found here. Insiders have sold a total of 61,790 shares of company stock valued at $5,371,894 over the last three months. Corporate insiders own 2.60% of the company’s stock.
Several large investors have recently modified their holdings of BURL. Advisor Group Inc. increased its position in shares of Burlington Stores by 9.2% during the 2nd quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after purchasing an additional 128 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new stake in shares of Burlington Stores during the 1st quarter worth about $204,000. Laurion Capital Management LP acquired a new stake in shares of Burlington Stores during the 1st quarter worth about $204,000. The Manufacturers Life Insurance Company increased its position in shares of Burlington Stores by 10.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after purchasing an additional 210 shares during the last quarter. Finally, Gilbert & Cook Inc. acquired a new stake in shares of Burlington Stores during the 2nd quarter worth about $210,000.
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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