Vetr Inc. Upgrades Burlington Stores Inc (BURL) to Strong-Buy

Vetr upgraded shares of Burlington Stores Inc (NYSE:BURL) from a buy rating to a strong-buy rating in a research note released on Monday. They currently have $105.25 price target on the stock.

A number of other analysts also recently issued reports on the company. BMO Capital Markets reaffirmed a buy rating on shares of Burlington Stores in a research note on Saturday, March 4th. Wells Fargo & Co reaffirmed an outperform rating and issued a $103.00 price objective (up previously from $90.50) on shares of Burlington Stores in a research note on Saturday, March 4th. Royal Bank of Canada boosted their target price on Burlington Stores from $91.00 to $97.00 and gave the company an outperform rating in a research report on Friday, March 3rd. Telsey Advisory Group raised Burlington Stores from a market perform rating to an outperform rating and boosted their target price for the company from $91.00 to $110.00 in a research report on Friday, March 3rd. They noted that the move was a valuation call. Finally, MKM Partners restated a buy rating and set a $99.00 price objective on shares of Burlington Stores in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Burlington Stores currently has a consensus rating of Buy and an average target price of $96.88.

Burlington Stores (NYSE:BURL) opened at 94.85 on Monday. The company has a 50 day moving average of $90.16 and a 200-day moving average of $83.94. The stock has a market capitalization of $6.59 billion, a P/E ratio of 31.51 and a beta of 0.54. Burlington Stores has a one year low of $51.19 and a one year high of $98.08.

Burlington Stores (NYSE:BURL) last released its quarterly earnings data on Thursday, March 2nd. The company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.08. Burlington Stores had a negative return on equity of 193.88% and a net margin of 3.48%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $1.49 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Burlington Stores will post $3.96 earnings per share for the current fiscal year.

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In other news, CEO Thomas Kingsbury sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $93.00, for a total value of $1,860,000.00. Following the sale, the chief executive officer now owns 571,871 shares in the company, valued at $53,184,003. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Crimmins sold 7,335 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $94.20, for a total value of $690,957.00. Following the completion of the sale, the vice president now owns 17,353 shares in the company, valued at approximately $1,634,652.60. The disclosure for this sale can be found here. Insiders sold 57,627 shares of company stock worth $5,452,685 over the last three months. Corporate insiders own 2.21% of the company’s stock.

A number of institutional investors have recently modified their holdings of BURL. California State Teachers Retirement System increased its position in Burlington Stores by 0.9% in the third quarter. California State Teachers Retirement System now owns 151,725 shares of the company’s stock worth $12,293,000 after buying an additional 1,300 shares in the last quarter. BlackRock Fund Advisors increased its position in Burlington Stores by 2.9% in the third quarter. BlackRock Fund Advisors now owns 674,136 shares of the company’s stock worth $54,618,000 after buying an additional 19,067 shares in the last quarter. Prudential Financial Inc. increased its position in Burlington Stores by 1,032.9% in the third quarter. Prudential Financial Inc. now owns 124,580 shares of the company’s stock worth $10,093,000 after buying an additional 113,583 shares in the last quarter. Two Sigma Advisers LP purchased a new position in Burlington Stores during the third quarter worth about $88,045,000. Finally, Quantbot Technologies LP purchased a new position in Burlington Stores during the third quarter worth about $1,107,000.

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.

5 Day Chart for NYSE:BURL

To view Vetr’s full report, visit Vetr’s official website.

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