Telsey Advisory Group Reaffirms Outperform Rating for Burlington Stores (NYSE:BURL)

Burlington Stores (NYSE:BURL)‘s stock had its “outperform” rating reaffirmed by research analysts at Telsey Advisory Group in a research report issued on Monday,Benzinga reports. They currently have a $350.00 target price on the stock. Telsey Advisory Group’s target price indicates a potential upside of 14.23% from the company’s previous close.

BURL has been the subject of several other reports. Jefferies Financial Group reiterated a “buy” rating and set a $330.00 price objective on shares of Burlington Stores in a research note on Tuesday, November 25th. Guggenheim began coverage on shares of Burlington Stores in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Morgan Stanley cut their price target on shares of Burlington Stores from $330.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Gordon Haskett cut shares of Burlington Stores from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Sanford C. Bernstein set a $350.00 price objective on shares of Burlington Stores and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Fifteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $338.44.

Burlington Stores Stock Down 0.7%

BURL opened at $306.40 on Monday. The business has a 50-day moving average of $301.18 and a 200-day moving average of $282.14. Burlington Stores has a fifty-two week low of $212.92 and a fifty-two week high of $332.20. The company has a market capitalization of $19.28 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.73 and a beta of 1.74. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.21 and a quick ratio of 0.46.

Institutional Investors Weigh In On Burlington Stores

Several hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Burlington Stores by 303,059.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,912,936 shares of the company’s stock worth $552,552,000 after acquiring an additional 1,912,305 shares in the last quarter. Norges Bank bought a new stake in Burlington Stores in the fourth quarter worth $224,971,000. Alyeska Investment Group L.P. raised its stake in Burlington Stores by 103.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,285,336 shares of the company’s stock valued at $371,269,000 after purchasing an additional 653,718 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Burlington Stores by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,828,877 shares of the company’s stock valued at $817,122,000 after purchasing an additional 386,615 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Burlington Stores by 121.0% in the 4th quarter. Wellington Management Group LLP now owns 595,961 shares of the company’s stock worth $172,143,000 after buying an additional 326,328 shares in the last quarter.

About Burlington Stores

Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company’s merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington’s merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.

The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.