Deutsche Bank AG began coverage on shares of Burlington Stores, Inc. (NYSE:BURL) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $108.00 target price on the stock.
BURL has been the subject of several other reports. Bank of America Corporation increased their target price on Burlington Stores from $110.00 to $114.00 and gave the company a buy rating in a report on Tuesday, May 30th. Cowen and Company set a $105.00 target price on Burlington Stores and gave the company a buy rating in a report on Monday, August 14th. BMO Capital Markets restated a buy rating and set a $115.00 target price on shares of Burlington Stores in a report on Wednesday. Credit Suisse Group cut Burlington Stores from an outperform rating to a neutral rating and dropped their target price for the company from $97.00 to $89.00 in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded Burlington Stores from a hold rating to a buy rating in a report on Wednesday, July 5th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $105.75.
Shares of Burlington Stores (NYSE BURL) opened at 90.13 on Thursday. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 24.90 and a beta of 0.51. The stock’s 50 day moving average price is $86.38 and its 200-day moving average price is $92.42. Burlington Stores has a 52 week low of $68.94 and a 52 week high of $104.07.
Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.22. Burlington Stores had a negative return on equity of 330.30% and a net margin of 4.46%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that Burlington Stores will post $4.20 earnings per share for the current year.
Burlington Stores announced that its board has authorized a stock repurchase program on Thursday, August 24th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, CEO Thomas Kingsbury sold 20,000 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $88.20, for a total value of $1,764,000.00. Following the completion of the transaction, the chief executive officer now owns 538,308 shares of the company’s stock, valued at approximately $47,478,765.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marc Katz sold 11,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was 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 approximately $10,867,423.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,790 shares of company stock valued at $7,830,494. Company insiders own 2.60% of the company’s stock.
Several large investors have recently made changes to their positions in BURL. Advisor Group Inc. raised 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 in the last quarter. Laurion Capital Management LP bought a new position in shares of Burlington Stores in the 1st quarter worth approximately $204,000. The Manufacturers Life Insurance Company raised 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 in the last quarter. Gilbert & Cook Inc. bought a new position in shares of Burlington Stores in the 2nd quarter worth approximately $210,000. Finally, Sciencast Management LP bought a new position in shares of Burlington Stores in the 2nd quarter worth approximately $231,000.
About Burlington Stores
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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