Buckle (NYSE:BKE) Sets New 52-Week Low – Time to Sell?

Buckle, Inc. (The) (NYSE:BKE)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $42.65 and last traded at $42.7980, with a volume of 232461 shares. The stock had previously closed at $44.57.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Buckle from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, June 1st. Weiss Ratings lowered shares of Buckle from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen cut Buckle from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.00.

Buckle Stock Down 3.5%

The stock’s 50-day simple moving average is $49.25 and its 200 day simple moving average is $51.50. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.85 and a beta of 1.09.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, May 29th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The company had revenue of $288.74 million for the quarter, compared to analyst estimates of $287.68 million. Buckle had a return on equity of 47.35% and a net margin of 16.85%.The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share.

Buckle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, July 15th. Buckle’s payout ratio is currently 32.11%.

Insider Buying and Selling

In other Buckle news, SVP Michelle Hoffman sold 16,200 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $54.80, for a total value of $887,760.00. Following the completion of the transaction, the senior vice president directly owned 29,682 shares of the company’s stock, valued at approximately $1,626,573.60. The trade was a 35.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bill L. Fairfield sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $44.44, for a total transaction of $111,100.00. Following the transaction, the director owned 52,908 shares in the company, valued at $2,351,231.52. The trade was a 4.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,700 shares of company stock worth $2,635,960 in the last 90 days. Corporate insiders own 39.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BKE. Vanguard Group Inc. lifted its holdings in Buckle by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 3,970,767 shares of the company’s stock worth $212,118,000 after buying an additional 89,441 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Buckle by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company’s stock valued at $73,207,000 after buying an additional 5,784 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Buckle by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock valued at $67,582,000 after acquiring an additional 30,128 shares during the period. State Street Corp lifted its stake in shares of Buckle by 4.3% during the fourth quarter. State Street Corp now owns 1,321,675 shares of the company’s stock valued at $70,604,000 after acquiring an additional 54,826 shares during the period. Finally, Morgan Stanley boosted its holdings in Buckle by 26.8% in the fourth quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock valued at $66,475,000 after acquiring an additional 263,338 shares during the last quarter. Institutional investors own 53.93% of the company’s stock.

About Buckle

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.