Burlington Stores (NYSE:BURL) Price Target Increased to $368.00 by Analysts at MKM Partners

Burlington Stores (NYSE:BURL) had its target price raised by MKM Partners from $360.00 to $368.00 in a research report released on Wednesday morning, The Fly reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on BURL. Deutsche Bank Aktiengesellschaft cut their price target on shares of Burlington Stores from $364.00 to $316.00 and set a buy rating on the stock in a research note on Wednesday. Berenberg Bank reiterated a hold rating and set a $333.00 target price on shares of Burlington Stores in a report on Friday, September 3rd. Robert W. Baird boosted their price target on shares of Burlington Stores from $370.00 to $400.00 and gave the stock an outperform rating in a research note on Friday, August 27th. JPMorgan Chase & Co. increased their price objective on Burlington Stores from $380.00 to $427.00 and gave the company an overweight rating in a research note on Monday, August 16th. Finally, Credit Suisse Group boosted their target price on Burlington Stores from $354.00 to $360.00 and gave the stock an outperform rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $351.37.

Burlington Stores stock opened at $290.09 on Wednesday. The company has a market capitalization of $19.36 billion, a PE ratio of 44.91 and a beta of 0.90. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.02 and a current ratio of 1.48. Burlington Stores has a fifty-two week low of $217.38 and a fifty-two week high of $357.34. The firm has a 50 day moving average price of $282.44 and a 200 day moving average price of $307.58.

Burlington Stores (NYSE:BURL) last issued its quarterly earnings data on Monday, November 22nd. The company reported $1.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.09. Burlington Stores had a return on equity of 100.00% and a net margin of 5.23%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 38.1% on a year-over-year basis. As a group, equities research analysts forecast that Burlington Stores will post 9.08 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its position in Burlington Stores by 149.0% in the third quarter. Alliancebernstein L.P. now owns 1,939,238 shares of the company’s stock valued at $549,910,000 after acquiring an additional 1,160,452 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Burlington Stores by 78.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,089,490 shares of the company’s stock valued at $672,795,000 after purchasing an additional 920,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Burlington Stores by 4.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,508,612 shares of the company’s stock valued at $2,739,688,000 after purchasing an additional 382,870 shares during the period. Nuveen Asset Management LLC grew its stake in Burlington Stores by 59.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 785,914 shares of the company’s stock worth $253,056,000 after buying an additional 292,627 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in Burlington Stores during the second quarter worth approximately $82,578,000.

Burlington Stores Company Profile

Burlington Stores, Inc engages in the retail of off-price apparel and home products. It offers women’s ready-to-wear apparel, accessories, footwear, menswear, youth apparel, baby, coats, beauty, toys, and gifts. The company was founded in 1972 and is headquartered in Burlington, NJ.

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