Guggenheim Keeps Their Hold Rating on Burlington Stores (BURL)


Guggenheim analyst Robert Drbul maintained a Hold rating on Burlington Stores (BURL) yesterday. The company’s shares closed yesterday at $161.95.

Drbul said:

“We have a favorable view of Mr. O’Sullivan. The company also provided an updated 1Q19 outlook; we revise our estimates lower following the update. We continue to favor the off-price sector and expect share gains in 2019 but remain NEUTRAL on BURL, in part due to valuation, with BUY ratings on TJX and ROST. After the close, BURL announced a leadership succession plan, including that CEO, will step down as CEO in >10 years in that role. During his tenure, BURL has delivered solid comp sales growth and returns since the company’s IPO in 2013. Michael O’Sullivan, former President and COO at ROST, will join BURL as CEO in Sept 2019.”

According to TipRanks.com, Drbul is a 5-star analyst with an average return of 12.2% and a 71.8% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Capri Holdings Limited, and Ascena Retail Group.

Currently, the analyst consensus on Burlington Stores is a Moderate Buy with an average price target of $169.80, representing a 4.8% upside. In a report issued on April 16, Wedbush also reiterated a Hold rating on the stock with a $162 price target.

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Based on Burlington Stores’ latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $184 million. In comparison, last year the company had a net profit of $241 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Burlington Stores, Inc. offers selection of in-season, fashion-focused merchandise, including: women’s ready-to-wear apparel, accessories, footwear, menswear, youth apparel, baby, home, coats, beauty, toys and gifts. The company was founded in 1972 and is headquartered in Burlington, NJ.

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