Burlington Stores (NYSE:BURL) Raised to “Hold” at Zacks Investment Research

Burlington Stores (NYSE:BURLGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $172.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 4.27% from the stock’s current price.

According to Zacks, “Shares of Burlington Stores have underperformed the industry in the past three months. The company has been witnessing higher SG&A expenses for a while. Also, inflationary pressures with higher supply-chain costs and elevated freight expenses are concerning. These factors have been hurting the company’s performance for a while. Burlington Stores reported lower-than-expected results for first-quarter fiscal 2022. Both the top and the bottom line compared unfavorably with the respective prior fiscal year’s quarterly tallies. Quarterly performance was mainly hurt by lower inventory levels and weak sales, including comp trends in May similar to April. Margins were also soft in the quarter. However, the company’s smooth execution of the 2.0 initiative, focused on marketing, merchandising, and store prototype, appears encouraging.”

Other research analysts have also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Burlington Stores from $329.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Burlington Stores from $223.00 to $191.00 in a report on Friday, May 27th. UBS Group cut their target price on shares of Burlington Stores from $218.00 to $209.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Robert W. Baird cut their price target on shares of Burlington Stores from $275.00 to $205.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $292.00 price target on shares of Burlington Stores in a report on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Burlington Stores has an average rating of “Buy” and an average price target of $243.75.

NYSE BURL traded down $3.35 during trading on Wednesday, hitting $164.95. 905,932 shares of the company’s stock traded hands, compared to its average volume of 1,012,510. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 3.03 and a beta of 0.76. Burlington Stores has a 12-month low of $142.41 and a 12-month high of $357.34. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.53 and a current ratio of 1.26. The business has a 50 day moving average of $190.64 and a 200-day moving average of $226.17.

Burlington Stores (NYSE:BURLGet Rating) last released its quarterly earnings data on Thursday, May 26th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.09). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Burlington Stores had a net margin of 2.80% and a return on equity of 60.41%. Burlington Stores’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. On average, analysts expect that Burlington Stores will post 6.6 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Burlington Stores by 0.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,315 shares of the company’s stock valued at $3,492,000 after purchasing an additional 42 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in Burlington Stores by 1.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,236 shares of the company’s stock worth $1,235,000 after purchasing an additional 44 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Burlington Stores by 3.9% during the 3rd quarter. Cetera Investment Advisers now owns 1,663 shares of the company’s stock worth $472,000 after acquiring an additional 63 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Burlington Stores by 0.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 22,621 shares of the company’s stock worth $6,594,000 after acquiring an additional 68 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Burlington Stores by 4.6% during the 3rd quarter. Captrust Financial Advisors now owns 1,598 shares of the company’s stock worth $453,000 after acquiring an additional 71 shares in the last quarter.

Burlington Stores Company Profile (Get Rating)

Burlington Stores, Inc operates as a retailer of branded apparel products 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.

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