Burlington Stores (NYSE:BURL) Reaches New 52-Week High – Time to Buy?

Shares of Burlington Stores, Inc. (NYSE:BURL) hit a new 52-week high on Friday . The company traded as high as $287.91 and last traded at $283.40, with a volume of 63405 shares. The stock had previously closed at $272.86.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Gordon Haskett raised shares of Burlington Stores from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, August 19th. StockNews.com cut shares of Burlington Stores from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on Burlington Stores from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Citigroup increased their price objective on shares of Burlington Stores from $276.00 to $313.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Evercore ISI boosted their target price on shares of Burlington Stores from $300.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.56.

Burlington Stores Stock Up 5.0 %

The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $261.16 and a 200-day simple moving average of $246.53. The company has a market cap of $18.25 billion, a PE ratio of 41.03, a P/E/G ratio of 1.39 and a beta of 1.64.

Burlington Stores (NYSE:BURL) last announced its earnings results on Thursday, August 29th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. Burlington Stores had a return on equity of 47.43% and a net margin of 4.18%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Burlington Stores, Inc. will post 7.94 EPS for the current year.

Insider Activity

In related news, Director Paul Sullivan sold 1,705 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $277.05, for a total transaction of $472,370.25. Following the transaction, the director now directly owns 7,393 shares in the company, valued at approximately $2,048,230.65. The trade was a 18.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BURL. Toronto Dominion Bank raised its holdings in shares of Burlington Stores by 29.8% during the 3rd quarter. Toronto Dominion Bank now owns 8,062 shares of the company’s stock worth $2,124,000 after acquiring an additional 1,851 shares during the period. Coldstream Capital Management Inc. purchased a new position in Burlington Stores during the third quarter worth about $239,000. Geode Capital Management LLC boosted its holdings in Burlington Stores by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,960 shares of the company’s stock valued at $282,582,000 after purchasing an additional 18,160 shares during the last quarter. Vestcor Inc grew its stake in shares of Burlington Stores by 86.9% in the 3rd quarter. Vestcor Inc now owns 32,914 shares of the company’s stock valued at $8,672,000 after buying an additional 15,300 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Burlington Stores by 1.5% in the 3rd quarter. M&T Bank Corp now owns 3,089 shares of the company’s stock valued at $813,000 after buying an additional 47 shares during the period.

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.