Deutsche Bank AG assumed coverage on shares of Burlington Stores, Inc. (NYSE:BURL) in a research note released on Thursday morning. The brokerage issued a buy rating and a $108.00 price objective on the stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets set a $115.00 target price on Burlington Stores and gave the stock a buy rating in a report on Tuesday, August 8th. Cowen and Company boosted their target price on Burlington Stores from $103.00 to $110.00 and gave the stock an outperform rating in a report on Wednesday, May 31st. Credit Suisse Group downgraded Burlington Stores from an outperform rating to a neutral rating and reduced their target price for the stock from $97.00 to $89.00 in a report on Wednesday, August 2nd. Zacks Investment Research raised Burlington Stores from a hold rating to a buy rating and set a $111.00 target price on the stock in a report on Friday, June 2nd. Finally, Morgan Stanley reduced their target price on Burlington Stores from $105.00 to $98.00 and set an overweight rating on the stock in a report on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $105.75.

Shares of Burlington Stores (NYSE:BURL) traded down 0.81% during mid-day trading on Thursday, hitting $90.13. The company had a trading volume of 1,097,186 shares. Burlington Stores has a 12-month low of $68.94 and a 12-month high of $104.07. The firm has a market cap of $6.14 billion, a PE ratio of 24.90 and a beta of 0.51. The firm’s 50 day moving average is $86.30 and its 200-day moving average is $92.41.

Burlington Stores (NYSE:BURL) last released 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 the consensus estimate of $1.35 billion. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 earnings per share. On average, equities analysts expect that Burlington Stores will post $4.20 EPS for the current year.

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Burlington Stores declared that its board has initiated a stock repurchase program on Thursday, August 24th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

In other Burlington Stores news, insider Joyce Manning Magrini sold 3,333 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $93.05, for a total transaction of $310,135.65. Following the completion of the sale, the insider now owns 56,882 shares in the company, valued at approximately $5,292,870.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $88.20, for a total transaction of $1,764,000.00. Following the sale, the chief executive officer now owns 538,308 shares of the company’s stock, valued at approximately $47,478,765.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,790 shares of company stock worth $7,830,494. Company insiders own 2.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Advisor Group Inc. raised 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 valued at $139,000 after acquiring an additional 128 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Burlington Stores during the 1st quarter valued at $204,000. The Manufacturers Life Insurance Company raised 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 valued at $208,000 after acquiring an additional 210 shares during the last quarter. Gilbert & Cook Inc. bought a new stake in shares of Burlington Stores during the 2nd quarter valued at $210,000. Finally, Sciencast Management LP bought a new stake in shares of Burlington Stores during the 2nd quarter valued at $231,000.

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.

Analyst Recommendations for Burlington Stores (NYSE:BURL)

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