Why Did Berenberg Bank Downgrade Burlington Stores’ Stock?


Burlington Stores (BURL) received a Hold rating and a $314.00 price target from Berenberg Bank analyst Brian McNamara today. The company’s shares closed last Monday at $304.00, close to its 52-week high of $321.86.

According to TipRanks.com, McNamara is a 4-star analyst with an average return of 17.8% and a 90.5% success rate. McNamara covers the Consumer Goods sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Grocery Outlet Holding, and Casey’s General.

Burlington Stores has an analyst consensus of Strong Buy, with a price target consensus of $314.14.

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The company has a one-year high of $321.86 and a one-year low of $126.93. Currently, Burlington Stores has an average volume of 569.5K.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BURL in relation to earlier this year. Earlier this month, Jennifer Vecchio, the President and CMO of BURL sold 20,000 shares for a total of $6,111,469.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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