Buckle Inc (BKE) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Buckle Inc (NYSE:BKE) from a hold rating to a buy rating in a research note published on Friday morning. The firm currently has $19.00 target price on the stock.
According to Zacks, “Buckle, Inc. is a retailer of medium to better-priced casual apparel for young men and women. The company markets a wide selection of mostly brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. They emphasize personalized attention to their customers and provides individual customer services such as free alterations, free gift-wrapping, easy layaways and a frequent shopper program. Most stores are located in regional, high-traffic shopping malls, and this is their strategy for future expansion. “
Separately, Deutsche Bank AG upgraded shares of Buckle from a sell rating to a hold rating and upped their price target for the stock from $15.00 to $16.00 in a research note on Friday, April 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $18.67.
Buckle (NYSE:BKE) traded up 4.303% on Friday, reaching $17.575. 158,810 shares of the company’s stock traded hands. The company has a market cap of $847.41 million, a PE ratio of 9.299 and a beta of 1.08. Buckle has a 12 month low of $16.00 and a 12 month high of $28.67. The firm’s 50 day moving average price is $18.41 and its 200 day moving average price is $20.79.
Buckle (NYSE:BKE) last announced its earnings results on Thursday, May 18th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Buckle had a net margin of 11.32% and a return on equity of 27.17%. The firm had revenue of $212.20 million for the quarter, compared to analysts’ expectations of $216.42 million. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. On average, equities analysts expect that Buckle will post $1.69 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Shareholders of record on Thursday, April 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, April 11th. This represents a $1.00 annualized dividend and a yield of 5.93%. Buckle’s payout ratio is 41.49%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Buckle during the first quarter worth approximately $1,251,000. Tudor Investment Corp ET AL raised its stake in Buckle by 70.6% in the first quarter. Tudor Investment Corp ET AL now owns 18,600 shares of the company’s stock valued at $346,000 after buying an additional 7,700 shares during the last quarter. Gotham Asset Management LLC raised its stake in Buckle by 91.3% in the first quarter. Gotham Asset Management LLC now owns 342,938 shares of the company’s stock valued at $6,379,000 after buying an additional 163,695 shares during the last quarter. State Street Corp raised its stake in Buckle by 28.5% in the first quarter. State Street Corp now owns 1,046,933 shares of the company’s stock valued at $19,468,000 after buying an additional 232,335 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Buckle by 73.1% in the first quarter. Bank of America Corp DE now owns 69,007 shares of the company’s stock valued at $1,284,000 after buying an additional 29,147 shares during the last quarter. Institutional investors and hedge funds own 60.79% of the company’s stock.
Buckle Company Profile
The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. As of January 28, 2017, the Company operated 467 retail stores in 44 states throughout the United States under the names Buckle and The Buckle. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear.
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