Burlington Stores (NYSE:BURL) Hits New 1-Year High – Here’s What Happened

Shares of Burlington Stores, Inc. (NYSE:BURL) reached a new 52-week high on Friday . The company traded as high as $287.91 and last traded at $283.40, with a volume of 63405 shares trading hands. The stock had previously closed at $272.86.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BURL. Wells Fargo & Company lifted their price objective on Burlington Stores from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Gordon Haskett upgraded shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, August 19th. Barclays increased their price objective on shares of Burlington Stores from $274.00 to $327.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Bank of America lifted their target price on shares of Burlington Stores from $275.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Evercore ISI increased their price target on shares of Burlington Stores from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $297.56.

Burlington Stores Stock Performance

The company has a market cap of $18.22 billion, a PE ratio of 43.03, a PEG ratio of 1.39 and a beta of 1.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 0.48. The business has a 50-day moving average of $261.34 and a 200 day moving average of $247.63.

Burlington Stores (NYSE:BURL) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.95 by $0.25. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.42 billion. Burlington Stores had a net margin of 4.18% and a return on equity of 47.43%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts anticipate that Burlington Stores, Inc. will post 7.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul Sullivan sold 1,705 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $277.05, for a total transaction of $472,370.25. Following the completion of the transaction, the director now directly owns 7,393 shares in the company, valued at approximately $2,048,230.65. The trade was a 18.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Burlington Stores

A number of hedge funds have recently modified their holdings of BURL. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Burlington Stores by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 145,552 shares of the company’s stock worth $38,350,000 after acquiring an additional 3,246 shares during the period. Tidal Investments LLC boosted its stake in Burlington Stores by 178.4% in the 1st quarter. Tidal Investments LLC now owns 6,163 shares of the company’s stock worth $1,431,000 after purchasing an additional 3,949 shares during the period. Cetera Investment Advisers purchased a new stake in Burlington Stores during the 1st quarter valued at approximately $2,851,000. AMF Tjanstepension AB bought a new stake in shares of Burlington Stores during the second quarter valued at approximately $8,186,000. Finally, Hsbc Holdings PLC raised its position in shares of Burlington Stores by 5.5% during the second quarter. Hsbc Holdings PLC now owns 43,486 shares of the company’s stock valued at $10,435,000 after buying an additional 2,258 shares during the last quarter.

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.