Buckle (NYSE:BKE) Upgraded at StockNews.com

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

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

Buckle Price Performance

Buckle stock opened at $51.63 on Friday. The firm has a market cap of $2.62 billion, a PE ratio of 13.10 and a beta of 1.15. The stock’s fifty day moving average price is $49.37 and its two-hundred day moving average price is $43.98. Buckle has a one year low of $34.87 and a one year high of $54.25.

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

Buckle Cuts Dividend

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

Insider Transactions at Buckle

In other news, Director John P. Peetz sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $51.70, for a total value of $129,250.00. Following the completion of the transaction, the director now owns 22,123 shares of the company’s stock, valued at $1,143,759.10. This represents a 10.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dennis H. Nelson sold 20,453 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $43.00, for a total value of $879,479.00. Following the transaction, the chief executive officer now owns 1,842,999 shares of the company’s stock, valued at $79,248,957. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,812 shares of company stock worth $5,560,809. Corporate insiders own 39.80% of the company’s stock.

Institutional Trading of Buckle

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Buckle by 52.0% in the 3rd quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the period. Quarry LP raised its stake in Buckle by 60.9% during the third quarter. Quarry LP now owns 938 shares of the company’s stock worth $41,000 after buying an additional 355 shares during the last quarter. Quest Partners LLC acquired a new position in Buckle in the third quarter valued at $86,000. Signaturefd LLC boosted its position in Buckle by 38.7% during the third quarter. Signaturefd LLC now owns 2,236 shares of the company’s stock valued at $98,000 after acquiring an additional 624 shares during the last quarter. Finally, CWM LLC grew its holdings in Buckle by 85.3% during the 3rd quarter. CWM LLC now owns 3,725 shares of the company’s stock worth $164,000 after acquiring an additional 1,715 shares during the period. Institutional investors and hedge funds own 53.93% of the company’s stock.

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.