Burlington Stores (NYSE:BURL) Upgraded to Buy at TD Cowen

TD Cowen upgraded shares of Burlington Stores (NYSE:BURL) from a hold rating to a buy rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has $279.00 target price on the stock, up from their previous target price of $257.00.

Several other research analysts have also weighed in on BURL. Barclays upped their price objective on shares of Burlington Stores from $252.00 to $274.00 and gave the company an overweight rating in a research note on Friday, May 31st. Evercore ISI increased their price target on shares of Burlington Stores from $250.00 to $274.00 and gave the stock an outperform rating in a research note on Friday, May 31st. Telsey Advisory Group restated an outperform rating and set a $250.00 price target on shares of Burlington Stores in a research note on Thursday, May 30th. Robert W. Baird increased their price target on shares of Burlington Stores from $260.00 to $275.00 and gave the stock an outperform rating in a research note on Friday, May 31st. Finally, Morgan Stanley dropped their price target on shares of Burlington Stores from $233.00 to $218.00 and set an overweight rating on the stock in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Burlington Stores currently has an average rating of Moderate Buy and an average target price of $250.27.

Burlington Stores Price Performance

BURL stock traded down $0.49 on Friday, hitting $251.79. 650,803 shares of the company’s stock traded hands, compared to its average volume of 916,480. Burlington Stores has a 1-year low of $115.66 and a 1-year high of $263.84. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 42.18, a P/E/G ratio of 1.36 and a beta of 1.61. The stock has a fifty day moving average of $241.88 and a 200-day moving average of $215.17. The company has a current ratio of 1.07, a quick ratio of 0.52 and a debt-to-equity ratio of 1.20.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.04 by $0.38. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.34 billion. Burlington Stores had a net margin of 3.87% and a return on equity of 46.39%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, analysts forecast that Burlington Stores will post 7.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Burlington Stores news, CMO Jennifer Vecchio sold 494 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $255.37, for a total value of $126,152.78. Following the transaction, the chief marketing officer now directly owns 61,907 shares in the company, valued at $15,809,190.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BURL. New York State Teachers Retirement System bought a new stake in shares of Burlington Stores in the 4th quarter valued at $7,775,000. DekaBank Deutsche Girozentrale grew its position in Burlington Stores by 32.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 17,834 shares of the company’s stock valued at $3,507,000 after purchasing an additional 4,341 shares during the period. Bleakley Financial Group LLC acquired a new stake in Burlington Stores in the 4th quarter valued at $319,000. International Assets Investment Management LLC purchased a new position in Burlington Stores during the 4th quarter worth $129,730,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in Burlington Stores by 9.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,531 shares of the company’s stock worth $492,000 after acquiring an additional 214 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.