Burlington Stores (NYSE:BURL) Shares Gap Up on Better-Than-Expected Earnings

Shares of Burlington Stores, Inc. (NYSE:BURL - Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $238.59, but opened at $255.60. Burlington Stores shares last traded at $237.25, with a volume of 395,846 shares.

The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.43 by $0.17. Burlington Stores had a return on equity of 47.52% and a net margin of 4.49%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $1.35 EPS. The firm's revenue was up 6.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

BURL has been the topic of a number of recent research reports. Loop Capital lowered their price target on shares of Burlington Stores from $315.00 to $305.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley dropped their target price on Burlington Stores from $297.00 to $269.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on Burlington Stores from $287.00 to $327.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Telsey Advisory Group restated an "outperform" rating and issued a $300.00 target price (down from $340.00) on shares of Burlington Stores in a report on Thursday. Finally, Evercore ISI dropped their target price on Burlington Stores from $345.00 to $310.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $312.27.

Insider Activity

In other news, CMO Jennifer Vecchio sold 4,939 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $239.94, for a total value of $1,185,063.66. Following the transaction, the chief marketing officer now owns 70,006 shares of the company's stock, valued at $16,797,239.64. This represents a 6.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Travis Marquette sold 190 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $237.63, for a total value of $45,149.70. Following the completion of the transaction, the chief operating officer now directly owns 22,858 shares in the company, valued at approximately $5,431,746.54. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Burlington Stores

Several hedge funds have recently bought and sold shares of BURL. Janney Montgomery Scott LLC lifted its stake in Burlington Stores by 3.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,622 shares of the company's stock worth $1,318,000 after acquiring an additional 140 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Burlington Stores during the 4th quarter worth about $223,000. Blue Trust Inc. lifted its stake in Burlington Stores by 69.4% during the 4th quarter. Blue Trust Inc. now owns 1,096 shares of the company's stock worth $289,000 after acquiring an additional 449 shares in the last quarter. KBC Group NV lifted its stake in Burlington Stores by 8.4% during the 4th quarter. KBC Group NV now owns 40,717 shares of the company's stock worth $11,607,000 after acquiring an additional 3,154 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Burlington Stores during the 4th quarter worth about $102,000.

Burlington Stores Trading Up 0.3%

The company has a 50 day moving average of $239.08 and a 200-day moving average of $259.39. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.54 and a current ratio of 1.17. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 1.11 and a beta of 1.70.

About Burlington Stores

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.