Burlington Stores (NYSE:BURL) Upgraded to Buy by TD Cowen

Burlington Stores (NYSE:BURL) was upgraded by equities researchers at TD Cowen from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat reports. The firm presently has a $279.00 price objective on the stock, up from their previous price objective of $257.00. TD Cowen’s price target would indicate a potential upside of 10.81% from the company’s current price.

Several other brokerages also recently weighed in on BURL. Morgan Stanley decreased their target price on Burlington Stores from $233.00 to $218.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Evercore ISI increased their target price on Burlington Stores from $250.00 to $274.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Robert W. Baird boosted their price objective on Burlington Stores from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Citigroup upped their price target on shares of Burlington Stores from $258.00 to $276.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, UBS Group upped their target price on shares of Burlington Stores from $212.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Burlington Stores presently has an average rating of “Moderate Buy” and a consensus price target of $250.27.

Burlington Stores Trading Down 0.2 %

NYSE:BURL traded down $0.49 during trading hours on Friday, reaching $251.79. 650,803 shares of the company were exchanged, compared to its average volume of 916,480. Burlington Stores has a 52-week low of $115.66 and a 52-week high of $263.84. The stock has a 50 day simple moving average of $241.88 and a 200 day simple moving average of $215.17. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 42.18, a PEG ratio of 1.36 and a beta of 1.61. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.07 and a quick ratio of 0.52.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Thursday, May 30th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.04 by $0.38. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.34 billion. Burlington Stores had a return on equity of 46.39% and a net margin of 3.87%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, analysts predict that Burlington Stores will post 7.61 EPS for the current year.

Insider Transactions at Burlington Stores

In other news, CMO Jennifer Vecchio sold 494 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $255.37, for a total transaction of $126,152.78. Following the completion of the transaction, the chief marketing officer now owns 61,907 shares of the company’s stock, valued at $15,809,190.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Burlington Stores

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in Burlington Stores during the 2nd quarter worth $21,888,000. Dimensional Fund Advisors LP boosted its stake in Burlington Stores by 54.8% in the second quarter. Dimensional Fund Advisors LP now owns 587,376 shares of the company’s stock valued at $140,968,000 after acquiring an additional 207,959 shares during the last quarter. Plato Investment Management Ltd boosted its position in shares of Burlington Stores by 194.9% in the 2nd quarter. Plato Investment Management Ltd now owns 4,246 shares of the company’s stock worth $1,019,000 after purchasing an additional 2,806 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Burlington Stores by 10.7% in the second quarter. Envestnet Asset Management Inc. now owns 112,995 shares of the company’s stock valued at $27,119,000 after buying an additional 10,889 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Burlington Stores by 13.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,027 shares of the company’s stock valued at $2,646,000 after acquiring an additional 1,338 shares during the period.

Burlington Stores Company Profile

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.