Citigroup Forecasts Strong Price Appreciation for Burlington Stores (NYSE:BURL) Stock

Burlington Stores (NYSE:BURL) had its target price hoisted by Citigroup from $313.00 to $344.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 20.26% from the company’s previous close.

BURL has been the topic of several other reports. StockNews.com cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of Burlington Stores from $284.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Loop Capital increased their price target on shares of Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Gordon Haskett raised Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, August 19th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $310.00 price objective on shares of Burlington Stores in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $305.81.

Burlington Stores Price Performance

Shares of BURL traded down $0.90 during midday trading on Wednesday, hitting $286.04. 55,417 shares of the company traded hands, compared to its average volume of 896,599. The stock has a 50-day moving average of $261.73 and a 200-day moving average of $248.76. Burlington Stores has a one year low of $168.49 and a one year high of $298.89. The firm has a market cap of $18.21 billion, a P/E ratio of 43.01, a PEG ratio of 1.48 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.

Burlington Stores (NYSE:BURL) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.02. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that Burlington Stores will post 7.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul Sullivan sold 1,705 shares of Burlington Stores stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $277.05, for a total value of $472,370.25. Following the completion of the sale, the director now directly owns 7,393 shares in the company, valued at approximately $2,048,230.65. This trade represents a 18.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Burlington Stores

Large investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in Burlington Stores by 178.4% in the first 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 last quarter. Plato Investment Management Ltd boosted its position in Burlington Stores by 928.6% in the first quarter. Plato Investment Management Ltd now owns 1,440 shares of the company’s stock worth $334,000 after purchasing an additional 1,300 shares during the last quarter. Wahed Invest LLC boosted its position in Burlington Stores by 13.1% in the first quarter. Wahed Invest LLC now owns 1,243 shares of the company’s stock worth $289,000 after purchasing an additional 144 shares during the last quarter. Swedbank AB purchased a new position in shares of Burlington Stores during the 1st quarter valued at about $1,101,000. Finally, Cetera Investment Advisers purchased a new position in shares of Burlington Stores during the 1st quarter valued at about $2,851,000.

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.