Burlington Stores Inc (NYSE:BURL) has been given a $109.00 price objective by SunTrust Banks, Inc. in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 22.75% from the company’s previous close.

BURL has been the topic of a number of other research reports. Cowen and Company reissued an “outperform” rating and set a $110.00 price objective on shares of Burlington Stores in a report on Friday, June 23rd. Credit Suisse Group lowered Burlington Stores from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $97.00 to $89.00 in a report on Wednesday, August 2nd. BMO Capital Markets set a $115.00 price objective on Burlington Stores and gave the company a “buy” rating in a report on Tuesday, August 8th. TheStreet lowered Burlington Stores from a “b-” rating to a “c+” rating in a report on Friday, June 23rd. Finally, BidaskClub lowered Burlington Stores from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. Burlington Stores has an average rating of “Buy” and a consensus target price of $105.62.

Burlington Stores (NYSE BURL) opened at 88.80 on Monday. The company’s 50-day moving average price is $90.54 and its 200 day moving average price is $92.11. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 24.53 and a beta of 0.53. Burlington Stores has a 52-week low of $68.94 and a 52-week high of $104.07.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate 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. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Equities research analysts predict that Burlington Stores will post $4.20 earnings per share for the current year.

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

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In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $92.29, for a total value of $1,845,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Sullivan sold 1,722 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $88.46, for a total value of $152,328.12. Following the completion of the sale, the director now owns 3,441 shares of the company’s stock, valued at approximately $304,390.86. The disclosure for this sale can be found here. Insiders sold a total of 88,857 shares of company stock valued at $7,828,142 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Raymond James Trust N.A. lifted its position in shares of Burlington Stores by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 3,808 shares of the company’s stock worth $350,000 after acquiring an additional 40 shares during the period. Teacher Retirement System of Texas lifted its position in shares of 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 during the period. Advisor Group Inc. lifted its position in shares of 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 period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Burlington Stores by 6.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,081 shares of the company’s stock worth $283,000 after acquiring an additional 191 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of 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 period.

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.

Analyst Recommendations for Burlington Stores (NYSE:BURL)

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