Burlington Stores (NYSE:BURL) Price Target Raised to $356.00 at JPMorgan Chase & Co.

Burlington Stores (NYSE:BURL) had its price objective hoisted by JPMorgan Chase & Co. from $316.00 to $356.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Citigroup reduced their price target on Burlington Stores from $358.00 to $351.00 and set a “buy” rating for the company in a report on Monday, November 3rd. The Goldman Sachs Group set a $331.00 price objective on shares of Burlington Stores in a research report on Wednesday, November 26th. Wells Fargo & Company reduced their target price on shares of Burlington Stores from $330.00 to $315.00 and set an “overweight” rating for the company in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Burlington Stores in a research note on Thursday, January 8th. They set a “hold” rating and a $318.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Burlington Stores in a report on Wednesday, January 21st. Fifteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Burlington Stores presently has an average rating of “Moderate Buy” and a consensus price target of $338.44.

Burlington Stores Stock Down 1.3%

Burlington Stores stock opened at $311.06 on Monday. Burlington Stores has a twelve month low of $212.92 and a twelve month high of $332.20. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.46 and a current ratio of 1.21. The firm has a market cap of $19.57 billion, a PE ratio of 35.75, a P/E/G ratio of 1.71 and a beta of 1.74. The firm’s 50 day moving average price is $298.13 and its two-hundred day moving average price is $281.28.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. Burlington Stores had a net margin of 5.01% and a return on equity of 41.02%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company posted $1.55 EPS. Burlington Stores’s revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Burlington Stores will post 7.93 EPS for the current fiscal year.

Institutional Trading of Burlington Stores

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in Burlington Stores by 303,059.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,912,936 shares of the company’s stock worth $552,552,000 after buying an additional 1,912,305 shares during the period. Norges Bank acquired a new stake in shares of Burlington Stores in the fourth quarter worth $224,971,000. Alyeska Investment Group L.P. grew its stake in shares of Burlington Stores by 103.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,285,336 shares of the company’s stock worth $371,269,000 after acquiring an additional 653,718 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Burlington Stores by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,828,877 shares of the company’s stock worth $817,122,000 after acquiring an additional 386,615 shares during the period. Finally, Wellington Management Group LLP raised its stake in Burlington Stores by 121.0% during the 4th quarter. Wellington Management Group LLP now owns 595,961 shares of the company’s stock valued at $172,143,000 after purchasing an additional 326,328 shares during the last quarter.

About Burlington Stores

Burlington Stores, Inc is an American off-price retailer that sells apparel and home goods at discounted prices. The company’s merchandise assortment includes clothing for women, men and children, plus baby products, footwear, accessories, beauty items, toys and home décor. Burlington’s merchandising strategy focuses on offering branded and private-label goods at lower prices than traditional department stores by sourcing excess inventory, closeouts and opportunistic buys from manufacturers and other retailers.

The business traces its roots to the Burlington Coat Factory name established in the early 1970s and has since evolved into a broader off-price retailer that carries a wide range of seasonal and everyday merchandise.