Buckle (BKE) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a research report released on Monday. They currently have $20.00 price target on the stock.
According to Zacks, “The Buckle, Inc. is a leading retailer of medium to better-priced casual apparel, footwear, and accessories for fashion-conscious young men and women. Buckle markets a wide selection of brand names and private label casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company emphasizes personalized attention to its guests (customers) and provides individual customer services such as free alterations, layaways, and a frequent shopper program. “
A number of other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Buckle from a sell rating to a hold rating in a research note on Tuesday, February 5th. TheStreet upgraded Buckle from a c rating to a b- rating in a research note on Tuesday, November 27th. Finally, Deutsche Bank upgraded Buckle from a sell rating to a hold rating and set a $19.00 price target for the company in a research note on Friday, November 2nd.
Buckle (NYSE:BKE) last issued its quarterly earnings data on Monday, November 26th. The company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.04). Buckle had a net margin of 10.70% and a return on equity of 24.02%. The firm had revenue of $215.10 million during the quarter, compared to analysts’ expectations of $218.37 million. During the same quarter in the prior year, the firm posted $0.41 EPS. Buckle’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Buckle will post 1.92 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Friday, January 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Thursday, January 10th. Buckle’s dividend payout ratio (DPR) is presently 54.05%.
In other news, Director Karen B. Rhoads sold 3,914 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $19.18, for a total transaction of $75,070.52. Following the completion of the sale, the director now owns 1,687 shares in the company, valued at $32,356.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen B. Rhoads sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $18.85, for a total value of $75,400.00. Following the sale, the director now owns 1,687 shares of the company’s stock, valued at approximately $31,799.95. The disclosure for this sale can be found here. 41.80% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in BKE. Morgan Stanley raised its stake in shares of Buckle by 155.5% during the third quarter. Morgan Stanley now owns 396,689 shares of the company’s stock worth $9,143,000 after purchasing an additional 241,448 shares during the last quarter. Vanguard Group Inc grew its holdings in Buckle by 6.5% during the third quarter. Vanguard Group Inc now owns 3,120,985 shares of the company’s stock worth $71,939,000 after acquiring an additional 190,258 shares during the period. Vanguard Group Inc. grew its holdings in Buckle by 6.5% during the third quarter. Vanguard Group Inc. now owns 3,120,985 shares of the company’s stock worth $71,939,000 after acquiring an additional 190,258 shares during the period. Advisors Asset Management Inc. grew its holdings in Buckle by 45.3% during the third quarter. Advisors Asset Management Inc. now owns 574,289 shares of the company’s stock worth $13,237,000 after acquiring an additional 179,058 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Buckle by 160.4% during the third quarter. Allianz Asset Management GmbH now owns 269,678 shares of the company’s stock worth $6,216,000 after acquiring an additional 166,097 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.
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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, Outpost Makers, Departwest, and Veece.
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