Buckle (NYSE:BKE) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a report published on Monday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Buckle from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Wednesday, July 10th.

BKE stock traded down $1.03 during trading on Monday, hitting $23.54. 694,183 shares of the company traded hands, compared to its average volume of 584,959. The stock’s 50-day simple moving average is $20.81 and its 200 day simple moving average is $18.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.35 and a quick ratio of 1.57. The company has a market cap of $1.08 billion, a PE ratio of 11.95 and a beta of 0.70. Buckle has a 1 year low of $14.81 and a 1 year high of $24.78.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, August 23rd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $203.80 million during the quarter, compared to analysts’ expectations of $202.20 million. Buckle had a return on equity of 23.16% and a net margin of 10.52%. Buckle’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. Research analysts expect that Buckle will post 1.85 earnings per share for the current year.

The firm also recently disclosed a — dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.25 dividend. This represents a yield of 5%. The ex-dividend date was Thursday, October 10th. Buckle’s payout ratio is currently 50.76%.

In other Buckle news, VP Robert J. Harbols sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.14, for a total value of $52,850.00. Following the sale, the vice president now directly owns 19,500 shares of the company’s stock, valued at $412,230. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 41.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Systematic Financial Management LP acquired a new stake in Buckle in the third quarter valued at approximately $439,000. Russell Investments Group Ltd. grew its holdings in Buckle by 326.0% in the third quarter. Russell Investments Group Ltd. now owns 131,162 shares of the company’s stock valued at $2,700,000 after purchasing an additional 100,372 shares during the period. Comerica Bank grew its holdings in Buckle by 2.0% in the third quarter. Comerica Bank now owns 26,896 shares of the company’s stock valued at $584,000 after purchasing an additional 536 shares during the period. California Public Employees Retirement System grew its holdings in Buckle by 14.3% in the third quarter. California Public Employees Retirement System now owns 65,682 shares of the company’s stock valued at $1,353,000 after purchasing an additional 8,200 shares during the period. Finally, State of Tennessee Treasury Department grew its holdings in Buckle by 32.6% in the third quarter. State of Tennessee Treasury Department now owns 23,262 shares of the company’s stock valued at $479,000 after purchasing an additional 5,722 shares during the period. 65.45% of the stock is currently 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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, FITZ + EDDI, Outpost Makers, Departwest, and Veece.

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