Burlington Stores, Inc. (BURL) Earns Buy Rating from Cowen and Company
Cowen and Company reaffirmed their buy rating on shares of Burlington Stores, Inc. (NYSE:BURL) in a research note issued to investors on Friday. They currently have a $110.00 price target on the stock.
Several other research analysts have also issued reports on BURL. BMO Capital Markets set a $115.00 target price on shares of Burlington Stores and gave the stock a buy rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Burlington Stores from a sell rating to a hold rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Burlington Stores from a hold rating to a buy rating and set a $105.00 target price for the company in a research report on Wednesday, November 1st. SunTrust Banks, Inc. set a $109.00 target price on shares of Burlington Stores and gave the stock a buy rating in a research report on Monday, October 16th. Finally, Credit Suisse Group lowered shares of Burlington Stores from an outperform rating to a neutral rating and cut their price target for the company from $97.00 to $89.00 in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $105.96.
Burlington Stores (BURL) opened at $98.30 on Friday. Burlington Stores has a 1 year low of $71.41 and a 1 year high of $104.07. The stock has a market cap of $6,779.95, a price-to-earnings ratio of 26.35, a P/E/G ratio of 1.33 and a beta of 0.51. The company has a debt-to-equity ratio of -13.31, a current ratio of 1.03 and a quick ratio of 0.24.
Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.22. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. analysts predict that Burlington Stores will post 4.24 EPS for the current fiscal year.
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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 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In related news, CFO Marc Katz sold 11,000 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $87.25, for a total value of $959,750.00. Following the completion of the transaction, the chief financial officer now directly owns 124,555 shares of the company’s stock, valued at $10,867,423.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $87.81, for a total transaction of $1,756,200.00. Following the completion of the transaction, the chief executive officer now directly owns 495,308 shares of the company’s stock, valued at $43,492,995.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,922 shares of company stock valued at $6,082,550. Insiders own 2.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BURL. New York State Teachers Retirement System bought a new position in Burlington Stores in the first quarter worth about $593,000. Fox Run Management L.L.C. bought a new position in Burlington Stores in the second quarter worth about $248,000. Bank of Montreal Can raised its stake in Burlington Stores by 35.3% in the second quarter. Bank of Montreal Can now owns 122,422 shares of the company’s stock worth $11,263,000 after buying an additional 31,916 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Burlington Stores by 585.2% in the second quarter. Meeder Asset Management Inc. now owns 4,913 shares of the company’s stock worth $451,000 after buying an additional 4,196 shares in the last quarter. Finally, Ardevora Asset Management LLP raised its stake in Burlington Stores by 1,116.3% in the second quarter. Ardevora Asset Management LLP now owns 402,600 shares of the company’s stock worth $37,035,000 after buying an additional 369,500 shares in the last quarter.
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.
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