Buckle (BKE) Lifted to Hold at Deutsche Bank

Deutsche Bank upgraded shares of Buckle (NYSE:BKE) from a sell rating to a hold rating in a report issued on Friday, November 2nd, Marketbeat.com reports. The firm currently has $19.00 price target on the stock.

Several other analysts have also issued reports on BKE. Zacks Investment Research lowered shares of Buckle from a buy rating to a hold rating in a research report on Wednesday, August 8th. ValuEngine downgraded shares of Buckle from a buy rating to a hold rating in a report on Tuesday, October 2nd.

NYSE:BKE traded down $0.65 during midday trading on Friday, reaching $21.74. The stock had a trading volume of 286,016 shares, compared to its average volume of 685,041. Buckle has a 1-year low of $17.80 and a 1-year high of $29.65. The firm has a market capitalization of $1.10 billion, a PE ratio of 11.75 and a beta of 0.79.

Buckle (NYSE:BKE) last posted its earnings results on Friday, August 24th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $201.10 million for the quarter, compared to analyst estimates of $201.82 million. Buckle had a net margin of 10.53% and a return on equity of 23.39%. Buckle’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. Equities analysts anticipate that Buckle will post 1.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend was Thursday, October 11th. Buckle’s payout ratio is 54.05%.

In related news, Director Michael E. Huss sold 1,688 shares of Buckle stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $22.63, for a total transaction of $38,199.44. Following the completion of the transaction, the director now directly owns 17,062 shares of the company’s stock, valued at approximately $386,113.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Diane L. Applegate sold 4,000 shares of Buckle stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the transaction, the vice president now directly owns 27,500 shares of the company’s stock, valued at $618,750. The disclosure for this sale can be found here. Insiders have sold a total of 6,308 shares of company stock valued at $141,102 over the last three months. 41.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Buckle during the 2nd quarter worth approximately $143,000. Contravisory Investment Management Inc. acquired a new stake in shares of Buckle during the 2nd quarter worth approximately $173,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Buckle during the 2nd quarter worth approximately $179,000. Zacks Investment Management acquired a new stake in shares of Buckle during the 2nd quarter worth approximately $206,000. Finally, Sei Investments Co. grew its position in shares of Buckle by 46.7% during the 2nd quarter. Sei Investments Co. now owns 8,130 shares of the company’s stock worth $218,000 after buying an additional 2,587 shares during the period. Hedge funds and other institutional investors own 70.33% of the company’s stock.

Buckle Company Profile

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, Outpost Makers, Departwest, and Veece.

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