Buckle (NYSE:BKE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a report published on Friday.

Separately, UBS Group raised shares of Buckle from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $31.00 to $46.00 in a research report on Tuesday, November 12th.

Buckle Stock Up 1.0 %

NYSE BKE opened at $51.63 on Friday. Buckle has a 52 week low of $34.87 and a 52 week high of $54.25. The business has a 50 day moving average price of $49.37 and a 200-day moving average price of $43.88. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 13.10 and a beta of 1.14.

Buckle (NYSE:BKE) last issued its quarterly earnings data on Friday, November 22nd. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $293.60 million during the quarter, compared to analysts’ expectations of $293.60 million. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share.

Buckle Cuts Dividend

The business also recently declared a special dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be given a dividend of $2.50 per share. The ex-dividend date is Wednesday, January 15th. This represents a yield of 2.6%. Buckle’s payout ratio is currently 35.53%.

Insiders Place Their Bets

In other Buckle news, Director John P. Peetz sold 2,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $51.70, for a total value of $129,250.00. Following the completion of the sale, the director now directly owns 22,123 shares of the company’s stock, valued at $1,143,759.10. This trade represents a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dennis H. Nelson sold 20,453 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $41.73, for a total value of $853,503.69. Following the completion of the sale, the chief executive officer now owns 1,863,452 shares in the company, valued at approximately $77,761,851.96. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,265 shares of company stock valued at $6,414,313. Company insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Buckle by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 155,833 shares of the company’s stock worth $6,852,000 after buying an additional 5,185 shares in the last quarter. DGS Capital Management LLC increased its holdings in Buckle by 6.8% during the 3rd quarter. DGS Capital Management LLC now owns 7,131 shares of the company’s stock worth $314,000 after acquiring an additional 451 shares during the period. Franklin Resources Inc. lifted its stake in Buckle by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 12,160 shares of the company’s stock worth $524,000 after purchasing an additional 761 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Buckle by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 799,078 shares of the company’s stock valued at $35,142,000 after purchasing an additional 36,472 shares during the period. Finally, Impala Asset Management LLC grew its position in shares of Buckle by 43.3% during the 3rd quarter. Impala Asset Management LLC now owns 365,000 shares of the company’s stock valued at $16,049,000 after purchasing an additional 110,273 shares in the last quarter. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.