Burlington Stores (NYSE:BURL) Releases Earnings Results, Beats Expectations By $0.24 EPS

Burlington Stores (NYSE:BURL) issued its quarterly earnings data on Thursday. The company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.24, FiscalAI reports. Burlington Stores had a return on equity of 41.37% and a net margin of 5.28%.The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.80 billion.

Burlington Stores Trading Down 0.4%

NYSE:BURL opened at $325.34 on Thursday. The stock has a 50-day simple moving average of $319.98 and a 200-day simple moving average of $301.10. The stock has a market cap of $20.44 billion, a P/E ratio of 34.17, a P/E/G ratio of 1.97 and a beta of 1.48. Burlington Stores has a 1 year low of $218.52 and a 1 year high of $351.85. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.65 and a current ratio of 1.23.

Wall Street Analyst Weigh In

Several research firms recently commented on BURL. Evercore reissued an “outperform” rating and set a $375.00 target price on shares of Burlington Stores in a research note on Thursday, March 5th. JPMorgan Chase & Co. boosted their target price on Burlington Stores from $365.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wells Fargo & Company boosted their target price on Burlington Stores from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Barclays boosted their target price on Burlington Stores from $365.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, UBS Group reissued a “buy” rating on shares of Burlington Stores in a research note on Tuesday, March 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.47.

Insider Activity

In other news, COO Travis Marquette sold 3,759 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $327.75, for a total transaction of $1,232,012.25. Following the completion of the transaction, the chief operating officer directly owned 26,350 shares of the company’s stock, valued at approximately $8,636,212.50. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BURL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Burlington Stores by 14.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 302 shares of the company’s stock worth $72,000 after acquiring an additional 38 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Burlington Stores by 1,604.7% during the 1st quarter. Jones Financial Companies Lllp now owns 1,449 shares of the company’s stock worth $345,000 after acquiring an additional 1,364 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Burlington Stores by 91.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 698 shares of the company’s stock worth $162,000 after acquiring an additional 334 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Burlington Stores by 12.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,459 shares of the company’s stock worth $1,735,000 after acquiring an additional 821 shares in the last quarter. Finally, AXA S.A. boosted its position in shares of Burlington Stores by 1,033.2% during the 2nd quarter. AXA S.A. now owns 10,754 shares of the company’s stock worth $2,502,000 after acquiring an additional 9,805 shares in the last quarter.

Burlington Stores Company Profile

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.