Burlington Stores (NYSE:BURL – Get Rating) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.35-0.45 for the period, compared to the consensus EPS estimate of $0.68. The company issued revenue guidance of +8-10% yr/yr $2.15-2.19 billion, compared to the consensus revenue estimate of $2.20 billion. Burlington Stores also updated its FY24 guidance to $5.50-6.00 EPS.
Analyst Ratings Changes
BURL has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Burlington Stores from $275.00 to $250.00 in a report on Friday. OTR Global raised shares of Burlington Stores from a mixed rating to a positive rating in a research note on Wednesday, February 1st. Morgan Stanley raised their price objective on shares of Burlington Stores from $219.00 to $233.00 in a research note on Friday, March 3rd. Jefferies Financial Group reduced their target price on shares of Burlington Stores from $260.00 to $225.00 in a research report on Tuesday, May 9th. Finally, Loop Capital lifted their price objective on shares of Burlington Stores from $220.00 to $225.00 in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $222.76.
Burlington Stores Stock Performance
Shares of NYSE:BURL traded down $2.90 on Friday, reaching $157.66. 367,397 shares of the company’s stock were exchanged, compared to its average volume of 986,505. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 0.84 and a beta of 1.10. Burlington Stores has a fifty-two week low of $106.47 and a fifty-two week high of $239.94. The business’s 50-day moving average is $188.50 and its two-hundred day moving average is $199.36. The company has a quick ratio of 0.58, a current ratio of 1.19 and a debt-to-equity ratio of 1.84.
Insiders Place Their Bets
In other news, CMO Jennifer Vecchio sold 47,153 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $209.46, for a total value of $9,876,667.38. Following the completion of the sale, the chief marketing officer now directly owns 55,173 shares of the company’s stock, valued at $11,556,536.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William P. Mcnamara sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $212.26, for a total transaction of $106,130.00. Following the transaction, the director now owns 8,154 shares of the company’s stock, valued at $1,730,768.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Jennifer Vecchio sold 47,153 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $209.46, for a total transaction of $9,876,667.38. Following the transaction, the chief marketing officer now directly owns 55,173 shares in the company, valued at approximately $11,556,536.58. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
Hedge Funds Weigh In On Burlington Stores
A number of institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. grew its stake in shares of Burlington Stores by 58.2% in the second quarter. Salem Investment Counselors Inc. now owns 193 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. Quarry LP acquired a new stake in Burlington Stores during the first quarter worth $39,000. KB Financial Partners LLC boosted its stake in Burlington Stores by 68.8% during the first quarter. KB Financial Partners LLC now owns 238 shares of the company’s stock worth $43,000 after buying an additional 97 shares in the last quarter. Covestor Ltd boosted its stake in Burlington Stores by 98.8% during the first quarter. Covestor Ltd now owns 491 shares of the company’s stock worth $90,000 after buying an additional 244 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Burlington Stores during the first quarter worth $218,000.
About Burlington Stores
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. It operates through the following segments: Ladies Apparel, Accessories and Shoes, Home, Mens Apparel, Kids Apparel and Baby, and Outerwear.
- Get a free copy of the StockNews.com research report on Burlington Stores (BURL)
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