Burlington Stores (NYSE:BURL) Reaches New 52-Week High - What's Next?

Key Points

• Burlington Stores (NYSE:BURL) reached a new 52-week high of $309.00, with its last trading price at $300.02, significantly up from the previous close of $280.30.
• Thirteen investment analysts currently rate Burlington Stores with a Buy rating, and the stock has an average target price of $318.92.
• The company reported a quarterly earnings per share of $1.60, surpassing analysts' estimates by $0.17, while its revenue rose by 6.0% year-over-year to $2.50 billion.

Shares of Burlington Stores, Inc. (NYSE:BURL - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $309.00 and last traded at $300.02, with a volume of 766105 shares. The stock had previously closed at $280.30.

Analyst Upgrades and Downgrades

Several research firms have commented on BURL. The Goldman Sachs Group decreased their price target on shares of Burlington Stores from $317.00 to $316.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Evercore ISI cut their target price on shares of Burlington Stores from $345.00 to $310.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and issued a $300.00 target price on shares of Burlington Stores in a report on Thursday. Morgan Stanley cut their target price on shares of Burlington Stores from $297.00 to $269.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Robert W. Baird cut their target price on shares of Burlington Stores from $335.00 to $325.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Thirteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $318.92.

Burlington Stores Trading Up 6.8%

The firm has a market cap of $18.88 billion, a P/E ratio of 36.71, a PEG ratio of 2.42 and a beta of 1.69. The firm's fifty day moving average is $262.92 and its two-hundred day moving average is $247.64. The company has a quick ratio of 0.39, a current ratio of 1.06 and a debt-to-equity ratio of 1.21.

Burlington Stores (NYSE:BURL - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.17. Burlington Stores had a net margin of 4.88% and a return on equity of 44.03%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $1.35 EPS. The company's quarterly revenue was up 6.0% on a year-over-year basis. Analysts predict that Burlington Stores, Inc. will post 7.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Jennifer Vecchio sold 420 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $236.64, for a total transaction of $99,388.80. Following the sale, the chief marketing officer owned 65,429 shares in the company, valued at approximately $15,483,118.56. The trade was a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Stephen Ferroni sold 450 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $241.39, for a total transaction of $108,625.50. Following the sale, the chief accounting officer owned 2,389 shares in the company, valued at approximately $576,680.71. This trade represents a 15.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Institutional Trading of Burlington Stores

A number of hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC raised its position in shares of Burlington Stores by 14.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 895 shares of the company's stock worth $213,000 after purchasing an additional 111 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Burlington Stores by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 689,831 shares of the company's stock worth $164,393,000 after purchasing an additional 21,548 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Burlington Stores by 72.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 5,628 shares of the company's stock worth $1,341,000 after purchasing an additional 2,365 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Burlington Stores by 5.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 23,914 shares of the company's stock worth $5,699,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Bain Capital Public Equity Management II LLC raised its position in shares of Burlington Stores by 39.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 456,416 shares of the company's stock worth $130,106,000 after purchasing an additional 129,303 shares during the last quarter.

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.

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