Buckle (NYSE:BKE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a report released on Friday.

Separately, UBS Group raised Buckle from a “sell” rating to a “neutral” rating and lifted their price target for the company from $31.00 to $46.00 in a research note on Tuesday, November 12th.

Buckle Trading Up 1.0 %

BKE stock opened at $51.63 on Friday. The firm has a 50-day moving average price of $49.37 and a 200-day moving average price of $43.88. Buckle has a 12 month low of $34.87 and a 12 month high of $54.25. The stock has a market capitalization of $2.62 billion, a P/E ratio of 13.10 and a beta of 1.14.

Buckle (NYSE:BKE) last issued its earnings results on Friday, November 22nd. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The company had revenue of $293.60 million during the quarter, compared to analyst estimates of $293.60 million. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 EPS.

Buckle Cuts Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $2.50 per share. This represents a dividend yield of 2.6%. The ex-dividend date is Wednesday, January 15th. Buckle’s payout ratio is currently 35.53%.

Insider Buying and Selling

In related news, Director Karen B. Rhoads sold 9,500 shares of Buckle stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $51.63, for a total value of $490,485.00. Following the transaction, the director now directly owns 214,089 shares of the company’s stock, valued at $11,053,415.07. The trade was a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Peetz sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $51.70, for a total transaction of $129,250.00. Following the sale, the director now directly owns 22,123 shares of the company’s stock, valued at $1,143,759.10. This represents a 10.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,265 shares of company stock valued at $6,414,313 over the last 90 days. 39.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Buckle

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Buckle by 52.0% during the 3rd quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares during the period. Quarry LP increased its holdings in Buckle by 60.9% in the third quarter. Quarry LP now owns 938 shares of the company’s stock worth $41,000 after purchasing an additional 355 shares in the last quarter. Quest Partners LLC bought a new position in shares of Buckle during the 3rd quarter worth approximately $86,000. Signaturefd LLC grew its position in shares of Buckle by 38.7% during the 3rd quarter. Signaturefd LLC now owns 2,236 shares of the company’s stock worth $98,000 after buying an additional 624 shares during the period. Finally, CWM LLC increased its stake in shares of Buckle by 85.3% in the 3rd quarter. CWM LLC now owns 3,725 shares of the company’s stock valued at $164,000 after acquiring an additional 1,715 shares in the last quarter. 53.93% of the stock is owned by institutional investors.

About Buckle

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.