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

Shares of Burlington Stores, Inc. (NYSE:BURL) gapped up prior to trading 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 EPS for the quarter, beating 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%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BURL. UBS Group raised shares of Burlington Stores from a “neutral” rating to a “buy” rating and lifted their price target for the company from $280.00 to $360.00 in a research note on Friday, January 10th. TD Cowen lifted 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. Evercore ISI lifted their price target on Burlington Stores from $315.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Citigroup upped their price objective on Burlington Stores from $313.00 to $344.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley lifted their target price on Burlington Stores from $285.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $319.87.

Insiders Place Their Bets

In other news, CMO Jennifer Vecchio sold 493 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $275.75, for a total value of $135,944.75. Following the completion of the transaction, the chief marketing officer now directly owns 58,944 shares in the company, valued at approximately $16,253,808. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.91% of the company’s stock.

Institutional Trading of Burlington Stores

Several institutional investors and hedge funds have recently bought and sold shares of BURL. Norges Bank bought a new stake in Burlington Stores during the fourth quarter worth about $227,268,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Burlington Stores by 1,048.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 730,524 shares of the company’s stock worth $192,478,000 after purchasing an additional 666,934 shares during the last quarter. Capital International Investors increased its stake in shares of Burlington Stores by 7.7% in the fourth quarter. Capital International Investors now owns 5,160,096 shares of the company’s stock worth $1,470,929,000 after buying an additional 367,703 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Burlington Stores by 55.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 671,999 shares of the company’s stock valued at $191,560,000 after buying an additional 240,144 shares during the last quarter. Finally, Steadfast Capital Management LP bought a new stake in Burlington Stores during the 4th quarter valued at $67,075,000.

Burlington Stores Stock Up 11.8 %

The company’s 50-day simple moving average is $271.04 and its two-hundred day simple moving average is $270.02. The firm has a market cap of $16.82 billion, a PE ratio of 36.44, a PEG ratio of 1.11 and a beta of 1.62. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.54 and a current ratio of 1.17.

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.