Citigroup Boosts Burlington Stores (NYSE:BURL) Price Target to $344.00

Burlington Stores (NYSE:BURL) had its target price boosted by Citigroup from $313.00 to $344.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 19.30% from the stock’s previous close.

Several other brokerages also recently commented on BURL. TD Cowen increased their price objective on shares of Burlington Stores from $288.00 to $334.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird raised their price target on shares of Burlington Stores from $315.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday. Loop Capital upped their price objective on Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their price target on Burlington Stores from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, The Goldman Sachs Group increased their price objective on Burlington Stores from $278.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $307.69.

Burlington Stores Price Performance

Shares of BURL opened at $288.36 on Wednesday. The firm’s 50-day simple moving average is $262.41 and its two-hundred day simple moving average is $249.71. Burlington Stores has a fifty-two week low of $168.49 and a fifty-two week high of $298.89. The stock has a market cap of $18.36 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.48 and a current ratio of 1.04.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts anticipate that Burlington Stores will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Burlington Stores

In other news, Director Paul Sullivan sold 1,705 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the completion of the sale, the director now owns 7,393 shares of the company’s stock, valued at $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 is available at this link. 0.91% of the stock is owned by corporate insiders.

Institutional Trading of Burlington Stores

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Burlington Stores by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,074,960 shares of the company’s stock worth $282,582,000 after acquiring an additional 18,160 shares during the period. Bank of New York Mellon Corp boosted its stake in Burlington Stores by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 772,010 shares of the company’s stock worth $185,282,000 after purchasing an additional 64,410 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Burlington Stores by 1,048.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 730,524 shares of the company’s stock valued at $192,478,000 after buying an additional 666,934 shares in the last quarter. Anomaly Capital Management LP raised its position in shares of Burlington Stores by 34.6% during the second quarter. Anomaly Capital Management LP now owns 730,175 shares of the company’s stock valued at $175,242,000 after buying an additional 187,760 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Burlington Stores by 2.2% during the second quarter. Clearbridge Investments LLC now owns 663,527 shares of the company’s stock worth $159,246,000 after acquiring an additional 14,080 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.