BidaskClub Downgrades Burlington Stores, Inc. (BURL) to Sell

BidaskClub lowered shares of Burlington Stores, Inc. (NYSE:BURL) from a hold rating to a sell rating in a report issued on Tuesday morning.

Other equities analysts have also issued research reports about the stock. Deutsche Bank AG started coverage on shares of Burlington Stores in a research report on Thursday, September 14th. They set a buy rating and a $108.00 price target for the company. BMO Capital Markets restated a buy rating and set a $115.00 price target on shares of Burlington Stores in a research report on Wednesday, September 13th. Cowen and Company set a $105.00 price target on shares of Burlington Stores and gave the company a buy rating in a research report on Monday, August 14th. TheStreet lowered shares of Burlington Stores from a b- rating to a c+ rating in a research report on Friday, June 23rd. Finally, Credit Suisse Group lowered shares of Burlington Stores from an outperform rating to a neutral rating and reduced their price target for the company from $97.00 to $89.00 in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. Burlington Stores presently has an average rating of Buy and a consensus target price of $105.70.

Shares of Burlington Stores (BURL) opened at 88.54 on Tuesday. The firm has a 50-day moving average of $90.78 and a 200-day moving average of $91.89. Burlington Stores has a 52 week low of $68.94 and a 52 week high of $104.07. The firm has a market cap of $6.03 billion, a PE ratio of 24.46 and a beta of 0.53.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.22. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, analysts expect that Burlington Stores will post $4.20 EPS for the current year.

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Burlington Stores announced that its board has approved a stock buyback plan on Thursday, August 24th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other Burlington Stores news, CFO Marc Katz sold 11,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $87.25, for a total transaction of $959,750.00. Following the sale, the chief financial officer now directly owns 124,555 shares of the company’s stock, valued at $10,867,423.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $84.03, for a total transaction of $1,680,600.00. Following the sale, the chief executive officer now directly owns 518,008 shares in the company, valued at $43,528,212.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,857 shares of company stock worth $7,828,142. Insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its holdings in shares of Burlington Stores by 9.2% in the second quarter. Advisor Group Inc. now owns 1,520 shares of the company’s stock worth $139,000 after buying an additional 128 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Burlington Stores by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,257 shares of the company’s stock worth $208,000 after buying an additional 210 shares in the last quarter. Gilbert & Cook Inc. purchased a new stake in shares of Burlington Stores in the second quarter worth about $210,000. Sciencast Management LP purchased a new stake in shares of Burlington Stores in the second quarter worth about $231,000. Finally, Stephens Inc. AR lifted its holdings in shares of Burlington Stores by 6,389.7% in the second quarter. Stephens Inc. AR now owns 2,531 shares of the company’s stock worth $233,000 after buying an additional 2,492 shares in the last quarter.

Burlington Stores Company Profile

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.

Analyst Recommendations for Burlington Stores (NYSE:BURL)

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