Burlington Stores, Inc. (NYSE: BURL – Get a rating) shares fell 5.7% on Friday after the company reported weaker-than-expected quarterly results. The stock traded as low as $191.61 and last traded at $191.61. About 5,759 shares changed hands during trading, down 99% from the average daily volume of 923,514 shares. The stock had previously closed at $203.12. The company reported EPS of $2.53 for the quarter, missing the consensus estimate of $3.22 per ($0.69). Burlington Stores had a net margin of 4.93% and a return on equity of 94.30%. The company posted revenue of $2.60 billion for the quarter, versus $2.77 billion expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $2.44. The company’s revenue increased 14.2% year over year.
BURL has been the subject of several research analyst reports. Telsey Advisory Group lowered its price target on Burlington Stores shares from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday. Credit Suisse Group cut its price target on Burlington Stores shares from $360.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday. MKM Partners raised its price target on Burlington Stores shares from $360.00 to $368.00 and gave the company a “buy” rating in a Wednesday, November 24 research note. Berenberg Bank moved shares of Burlington Stores from a “hold” rating to a “buy” rating and set a price target of $315.00 for the company in a Tuesday, February 22 research note. Finally, Truist Financial cut its price target on shares of Burlington Stores from $350.00 to $303.00 in a Friday, February 18 research note. One research analyst gave the stock a sell rating, two gave the company a hold rating and nineteen gave the company a buy rating. According to MarketBeat.com, Burlington Stores currently has a consensus rating of “Buy” and a consensus price target of $317.29.
Several institutional investors and hedge funds have recently changed their positions in BURL. D1 Capital Partners LP acquired a new position in shares of Burlington Stores during the fourth quarter valued at approximately $345,031,000. Alliancebernstein LP increased its stake in Burlington Stores by 149.0% in the third quarter. Alliancebernstein LP now owns 1,939,238 shares of the company valued at $549,910,000 after acquiring an additional 1,160,452 shares during the period. Adage Capital Partners GP LLC increased its stake in Burlington Stores by 90.0% in the fourth quarter. Adage Capital Partners GP LLC now owns 1,530,731 shares of the company valued at $446,223,000 after acquiring an additional 725,000 shares during the period. Artisan Partners Limited Partnership increased its stake in Burlington Stores by 30.6% in the third quarter. Artisan Partners Limited Partnership now owns 2,729,237 shares of the company valued at $773,930,000 after acquiring an additional 639,747 shares during the period. Finally, William Blair Investment Management LLC increased its stake in Burlington Stores by 42.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,065,602 shares of the company valued at $310,634,000 after acquiring an additional 319,849 shares during the period.
The company has a market capitalization of $12.86 billion, a P/E ratio of 31.06 and a beta of 0.95. The stock’s 50-day moving average is $239.69 and its two-hundred-day moving average is $272.93. The company has a debt ratio of 2.25, a current ratio of 1.33 and a quick ratio of 0.82.
About Burlington Stores (NYSE:BURL)
Burlington Stores, Inc. is engaged in the retail sale of clothing and home products at low prices. It offers women’s ready-to-wear, accessories, footwear, menswear, youthwear, babies, coats, beauty products, toys and gifts. The company was founded in 1972 and is based in Burlington, NJ.
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