Burlington Stores (NYSE:BURL) Coverage Initiated at Nomura

Nomura assumed coverage on shares of Burlington Stores (NYSE:BURL) in a research report report published on Thursday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $220.00 target price on the stock.

BURL has been the subject of a number of other reports. Robert W. Baird set a $215.00 target price on Burlington Stores and gave the company a buy rating in a research report on Tuesday, September 17th. UBS Group upgraded Burlington Stores from a sell rating to a neutral rating and upped their price objective for the stock from $121.00 to $200.00 in a research report on Tuesday, September 17th. MKM Partners upped their price objective on Burlington Stores from $180.00 to $238.00 and gave the stock a buy rating in a research report on Friday, August 30th. Citigroup set a $206.00 price objective on Burlington Stores and gave the stock a hold rating in a research report on Friday, August 30th. Finally, Loop Capital upped their price objective on Burlington Stores from $200.00 to $215.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $209.00.

Shares of NYSE:BURL traded down $1.81 during trading on Thursday, reaching $202.75. 737,855 shares of the company traded hands, compared to its average volume of 1,035,523. The company’s 50 day moving average is $197.86 and its two-hundred day moving average is $180.14. The firm has a market capitalization of $13.59 billion, a PE ratio of 31.48, a PEG ratio of 1.73 and a beta of 0.22. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 9.99. Burlington Stores has a 52 week low of $136.30 and a 52 week high of $209.36.

Burlington Stores (NYSE:BURL) last released its earnings results on Thursday, August 29th. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.21. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. Burlington Stores had a return on equity of 163.50% and a net margin of 6.11%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 EPS. As a group, research analysts anticipate that Burlington Stores will post 7.22 EPS for the current year.

In other Burlington Stores news, CMO Jennifer Vecchio sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $198.87, for a total value of $2,983,050.00. Following the completion of the transaction, the chief marketing officer now owns 59,637 shares of the company’s stock, valued at approximately $11,860,010.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Thomas Kingsbury sold 2,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $41.12, for a total value of $82,240.00. Following the completion of the transaction, the senior vice president now directly owns 3,092 shares of the company’s stock, valued at approximately $127,143.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,676 shares of company stock valued at $20,135,128. Insiders own 1.86% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of BURL. Third Point LLC acquired a new position in Burlington Stores in the 2nd quarter worth about $119,105,000. BlackRock Inc. increased its stake in shares of Burlington Stores by 10.8% in the second quarter. BlackRock Inc. now owns 5,161,216 shares of the company’s stock valued at $878,183,000 after buying an additional 501,582 shares during the period. Parnassus Investments CA acquired a new stake in shares of Burlington Stores in the second quarter valued at about $78,231,000. UBS Asset Management Americas Inc. increased its stake in shares of Burlington Stores by 175.0% in the second quarter. UBS Asset Management Americas Inc. now owns 612,182 shares of the company’s stock valued at $104,163,000 after buying an additional 389,536 shares during the period. Finally, Balyasny Asset Management LLC increased its stake in shares of Burlington Stores by 166.5% in the second quarter. Balyasny Asset Management LLC now owns 549,561 shares of the company’s stock valued at $93,508,000 after buying an additional 343,342 shares during the period.

Burlington Stores Company Profile

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, toys, and gifts, as well as baby, home, and beauty products.

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Analyst Recommendations for Burlington Stores (NYSE:BURL)

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