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 after the company announced better than expected quarterly earnings. 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.

The company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.32. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Burlington Stores had a return on equity of 47.52% and a net margin of 4.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Evercore ISI increased their target price on Burlington Stores from $315.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Citigroup cut their target price on Burlington Stores from $344.00 to $340.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird increased their target price on Burlington Stores from $330.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $340.00 price target on shares of Burlington Stores in a research report on Thursday. Finally, TD Cowen raised their price target on Burlington Stores from $334.00 to $339.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.20.

Insider Transactions at Burlington Stores

In related news, CMO Jennifer Vecchio sold 493 shares of Burlington Stores stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $275.75, for a total transaction of $135,944.75. Following the completion of the sale, the chief marketing officer now directly owns 58,944 shares of the company’s stock, valued at approximately $16,253,808. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Burlington Stores

Several hedge funds have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH bought a new stake in shares of Burlington Stores during the 4th quarter valued at $19,812,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Burlington Stores in the fourth quarter valued at about $11,486,000. Polar Asset Management Partners Inc. increased its stake in shares of Burlington Stores by 188.7% in the fourth quarter. Polar Asset Management Partners Inc. now owns 52,535 shares of the company’s stock valued at $14,976,000 after buying an additional 34,335 shares during the period. Challenger Wealth Management acquired a new stake in shares of Burlington Stores in the fourth quarter valued at about $257,000. Finally, Mackenzie Financial Corp acquired a new stake in Burlington Stores during the fourth quarter worth approximately $1,288,000.

Burlington Stores Stock Down 6.9 %

The firm has a 50 day moving average of $269.26 and a 200 day moving average of $269.71. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.11 and a beta of 1.62. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 1.35.

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.