Buckle (NYSE:BKE) Shares Gap Up on Earnings Beat

Shares of The Buckle, Inc. (NYSE:BKE) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $35.15, but opened at $37.49. Buckle shares last traded at $35.85, with a volume of 81,102 shares trading hands.

The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.09. The company had revenue of $379.20 million during the quarter, compared to analyst estimates of $378.97 million. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $1.59 earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Buckle from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Insider Activity at Buckle

In related news, CEO Dennis H. Nelson sold 20,453 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $51.57, for a total value of $1,054,761.21. Following the completion of the sale, the chief executive officer now owns 1,739,734 shares of the company’s stock, valued at $89,718,082.38. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 97,382 shares of company stock valued at $4,446,403 over the last quarter. Corporate insiders own 39.80% of the company’s stock.

Institutional Trading of Buckle

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP raised its position in shares of Buckle by 9.0% during the 4th quarter. First Trust Advisors LP now owns 1,663,407 shares of the company’s stock valued at $84,518,000 after acquiring an additional 137,972 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Buckle by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,357,095 shares of the company’s stock valued at $68,957,000 after acquiring an additional 10,178 shares during the last quarter. State Street Corp raised its position in shares of Buckle by 5.7% during the 3rd quarter. State Street Corp now owns 1,338,395 shares of the company’s stock valued at $58,849,000 after acquiring an additional 72,532 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Buckle by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,286,212 shares of the company’s stock valued at $65,352,000 after acquiring an additional 69,258 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Buckle by 12.0% during the 4th quarter. American Century Companies Inc. now owns 937,525 shares of the company’s stock valued at $47,636,000 after acquiring an additional 100,173 shares during the last quarter. Institutional investors own 53.93% of the company’s stock.

Buckle Stock Performance

The firm’s 50-day simple moving average is $44.22 and its 200 day simple moving average is $45.57. The company has a market cap of $1.83 billion, a P/E ratio of 9.15 and a beta of 1.17.

Buckle Company Profile

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.