Zacks Investment Research upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. The brokerage currently has $19.00 price objective on the stock.
According to Zacks, “The Buckle, Inc. is a leading retailer of medium to better-priced casual apparel, footwear, and accessories for fashion-conscious young men and women. Buckle markets a wide selection of brand names and private label casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company emphasizes personalized attention to its guests (customers) and provides individual customer services such as free alterations, layaways, and a frequent shopper program. “
Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th. ValuEngine cut shares of Willdan Group from a buy rating to a hold rating in a research note on Thursday, May 30th.
Buckle (NYSE:BKE) last posted its quarterly earnings results on Friday, May 24th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.05). Buckle had a return on equity of 22.96% and a net margin of 10.47%. The company had revenue of $201.31 million for the quarter, compared to analyst estimates of $200.93 million. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts forecast that Buckle will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.25 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 5.11%. Buckle’s payout ratio is 50.76%.
In related news, Director Robert Erle Campbell sold 2,000 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $19.00, for a total value of $38,000.00. Following the sale, the director now directly owns 30,464 shares of the company’s stock, valued at approximately $578,816. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 41.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY lifted its holdings in Buckle by 465.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,457 shares of the company’s stock valued at $202,000 after purchasing an additional 8,608 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in Buckle in the 4th quarter valued at about $209,000. 6 Meridian purchased a new position in Buckle in the 1st quarter valued at about $212,000. Squarepoint Ops LLC purchased a new position in Buckle in the 4th quarter valued at about $226,000. Finally, Hsbc Holdings PLC lifted its holdings in Buckle by 42.1% in the 4th quarter. Hsbc Holdings PLC now owns 12,482 shares of the company’s stock valued at $241,000 after purchasing an additional 3,700 shares in the last quarter. 66.52% of the stock is currently owned by hedge funds and other institutional investors.
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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