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

Burlington Stores, Inc. (NYSE:BURL)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $236.95, but opened at $268.60. Burlington Stores shares last traded at $262.63, with a volume of 849,941 shares changing hands.

The company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.75 by $0.32. Burlington Stores had a return on equity of 47.52% and a net margin of 4.49%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Burlington Stores from $313.00 to $344.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird increased their price objective on shares of Burlington Stores from $315.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays cut their price target on shares of Burlington Stores from $327.00 to $317.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. TD Cowen boosted their price objective on shares of Burlington Stores from $334.00 to $339.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $340.00 target price on shares of Burlington Stores in a research note on Thursday, February 27th. One investment 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 $319.87.

Insiders Place Their Bets

In other Burlington Stores news, CMO Jennifer Vecchio sold 493 shares of Burlington Stores stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $275.75, for a total transaction of $135,944.75. Following the completion of the transaction, the chief marketing officer now directly owns 58,944 shares of the company’s stock, valued at $16,253,808. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Burlington Stores

Several hedge funds have recently added to or reduced their stakes in BURL. IFP Advisors Inc increased its stake in Burlington Stores by 81.6% in the fourth quarter. IFP Advisors Inc now owns 89 shares of the company’s stock worth $25,000 after purchasing an additional 40 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Burlington Stores during the third quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its holdings in shares of Burlington Stores by 148.6% in the fourth quarter. Fortitude Family Office LLC now owns 92 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Stonebridge Financial Group LLC bought a new position in Burlington Stores in the fourth quarter worth approximately $31,000. Finally, Brooklyn Investment Group bought a new stake in Burlington Stores during the 3rd quarter valued at $33,000.

Burlington Stores Stock Up 11.8 %

The firm has a market cap of $16.82 billion, a P/E ratio of 36.44, a P/E/G ratio of 1.11 and a beta of 1.62. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $271.04 and a 200-day moving average price of $270.02.

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.