Buckle (NYSE:BKE) Hits New 1-Year Low – Should You Sell?

Buckle, Inc. (The) (NYSE:BKE)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $40.35 and last traded at $40.2680, with a volume of 11422 shares changing hands. The stock had previously closed at $40.77.

Analysts Set New Price Targets

BKE has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Buckle from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 14th. UBS Group reiterated a “neutral” rating on shares of Buckle in a report on Monday, August 24th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Buckle Stock Down 1.0%

The business has a 50 day moving average of $43.46 and a 200 day moving average of $47.54. The company has a market capitalization of $2.08 billion, a P/E ratio of 9.30 and a beta of 1.11.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, August 21st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Buckle had a return on equity of 46.91% and a net margin of 16.62%.The business had revenue of $319.82 million during the quarter, compared to analysts’ expectations of $319.80 million. During the same quarter last year, the business posted $0.89 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BKE. BlackRock Inc. bought a new stake in Buckle in the second quarter worth $208,888,000. California State Teachers Retirement System lifted its position in Buckle by 3,460.9% during the second quarter. California State Teachers Retirement System now owns 1,456,322 shares of the company’s stock valued at $61,457,000 after purchasing an additional 1,415,424 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Buckle by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company’s stock valued at $73,207,000 after purchasing an additional 5,784 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Buckle by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock worth $67,582,000 after buying an additional 30,128 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Buckle by 4.3% in the 4th quarter. State Street Corp now owns 1,321,675 shares of the company’s stock worth $70,604,000 after buying an additional 54,826 shares in the last quarter. 53.93% of the stock is owned by hedge funds and other institutional investors.

Buckle Company Profile

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.