Zacks Investment Research upgraded shares of Burlington Stores (NYSE:BURL) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $170.00 price objective on the stock.
According to Zacks, “In a tough retail landscape, Burlington Stores has made multiple changes to its business model to adapt to the ongoing transformation in the sector. The strategic initiatives have aided the company to continue registering top- and bottom-line growth, which in turn has helped the stock to surge and outpace the industry in a year. This evident from first-quarter fiscal 2018 results. Management is confident about posting sales and earnings growth in fiscal 2018. The company envisions full year adjusted earnings in the range of $5.90-$6.00 per share compared with $4.37 in the prior year. Notably, it has increased vendor counts, made technological advancements and initiated better marketing approach. These along with effective inventory management and cost containment efforts have helped elevate gross margin. However, high debt level and macroeconomic factors impacting consumer spending still remain matters of concern.”
BURL has been the topic of a number of other reports. Morgan Stanley lifted their price target on Burlington Stores from $128.00 to $132.00 and gave the company an overweight rating in a report on Friday, March 9th. OTR Global began coverage on Burlington Stores in a report on Tuesday, May 8th. They issued a positive rating on the stock. Telsey Advisory Group reiterated an outperform rating and issued a $150.00 price target (up from $146.00) on shares of Burlington Stores in a report on Wednesday, April 18th. Citigroup lifted their price target on Burlington Stores from $135.00 to $147.00 and gave the company a neutral rating in a report on Friday, June 1st. Finally, Wedbush began coverage on Burlington Stores in a report on Friday, June 22nd. They issued an outperform rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $151.94.
Shares of Burlington Stores opened at $151.98 on Monday, Marketbeat Ratings reports. Burlington Stores has a 12-month low of $79.07 and a 12-month high of $158.23. The firm has a market capitalization of $10.19 billion, a PE ratio of 34.78, a P/E/G ratio of 1.38 and a beta of 0.44. The company has a current ratio of 1.01, a quick ratio of 0.29 and a debt-to-equity ratio of 10.09.
Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, May 31st. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.17. Burlington Stores had a negative return on equity of 16,096.86% and a net margin of 6.61%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $0.79 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. equities research analysts forecast that Burlington Stores will post 6.04 EPS for the current year.
In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of Burlington Stores stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $137.13, for a total transaction of $2,742,600.00. Following the completion of the sale, the chief executive officer now owns 355,273 shares of the company’s stock, valued at approximately $48,718,586.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marc Katz sold 11,562 shares of Burlington Stores stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $150.36, for a total value of $1,738,462.32. The disclosure for this sale can be found here. Insiders sold a total of 73,262 shares of company stock valued at $10,790,126 in the last three months. Insiders own 1.91% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of BURL. BlackRock Inc. lifted its position in Burlington Stores by 1.9% during the 4th quarter. BlackRock Inc. now owns 2,987,183 shares of the company’s stock worth $367,512,000 after acquiring an additional 56,769 shares during the period. American International Group Inc. acquired a new stake in Burlington Stores during the 4th quarter worth about $191,000. FDx Advisors Inc. acquired a new stake in Burlington Stores during the 4th quarter worth about $564,000. Fuller & Thaler Asset Management Inc. lifted its position in Burlington Stores by 6.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 15,952 shares of the company’s stock worth $1,963,000 after acquiring an additional 952 shares during the period. Finally, Commerce Bank acquired a new stake in Burlington Stores during the 4th quarter worth about $292,000.
About Burlington Stores
Burlington Stores, Inc operates as a retailer of branded apparel products in the United States. The company offers fashion-focused merchandise, including women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, coats, and gifts, as well as baby, home, and beauty products. As of February 3, 2018, it operated 629 stores, including an Internet store in 45 states and Puerto Rico.
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