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Burlington Stores (BURL) Soars 11.7%: Is Further Upside Left in the Stock?
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Burlington Stores Inc. (BURL - Free Report) shares ended the last trading session 11.7% higher at $132.46. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.2% gain over the past four weeks.
Shares of Burlington Stores rallied following its joining news with S&P MidCap 400. Per media reports, Burlington will be added to the S&P MidCap 400 list before the start of trading on Nov 7 by replacing Envestnet Inc. (ENV - Free Report) . In an era of competitive retail landscape, Burlington Stores has made multiple changes to its business model to adapt to the ongoing changes in the industry. The company, which started business as a coat-focused off-price retailer, is now focusing on an “open to buy” off-price model. Through the Burlington 2.0 initiative strategy, the company focuses on three aspects, marketing, merchandising and store prototypes.
This discount retailer is expected to post quarterly earnings of $1.03 per share in its upcoming report, which represents a year-over-year change of +139.5%. Revenues are expected to be $2.32 billion, up 13.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Burlington Stores, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BURL going forward to see if this recent jump can turn into more strength down the road.
Burlington Stores belongs to the Zacks Retail - Discount Stores industry. Another stock from the same industry, Dollar General (DG - Free Report) , closed the last trading session 2.5% higher at $119.24. Over the past month, DG has returned 10.4%.
For Dollar General, the consensus EPS estimate for the upcoming report has changed -7% over the past month to $1.27. This represents a change of -45.5% from what the company reported a year ago. Dollar General currently has a Zacks Rank of #4 (Sell).
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Burlington Stores (BURL) Soars 11.7%: Is Further Upside Left in the Stock?
Burlington Stores Inc. (BURL - Free Report) shares ended the last trading session 11.7% higher at $132.46. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.2% gain over the past four weeks.
Shares of Burlington Stores rallied following its joining news with S&P MidCap 400. Per media reports, Burlington will be added to the S&P MidCap 400 list before the start of trading on Nov 7 by replacing Envestnet Inc. (ENV - Free Report) . In an era of competitive retail landscape, Burlington Stores has made multiple changes to its business model to adapt to the ongoing changes in the industry. The company, which started business as a coat-focused off-price retailer, is now focusing on an “open to buy” off-price model. Through the Burlington 2.0 initiative strategy, the company focuses on three aspects, marketing, merchandising and store prototypes.
This discount retailer is expected to post quarterly earnings of $1.03 per share in its upcoming report, which represents a year-over-year change of +139.5%. Revenues are expected to be $2.32 billion, up 13.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Burlington Stores, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BURL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Burlington Stores belongs to the Zacks Retail - Discount Stores industry. Another stock from the same industry, Dollar General (DG - Free Report) , closed the last trading session 2.5% higher at $119.24. Over the past month, DG has returned 10.4%.
For Dollar General, the consensus EPS estimate for the upcoming report has changed -7% over the past month to $1.27. This represents a change of -45.5% from what the company reported a year ago. Dollar General currently has a Zacks Rank of #4 (Sell).