Buckle (BKE) Lifted to “Buy” at Zacks Investment Research

Buckle (NYSE:BKE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $20.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 12.17% from the company’s current price.

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. “

Several other equities analysts have also recently weighed in on BKE. Deutsche Bank raised Buckle from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a report on Friday, November 2nd. TheStreet raised Buckle from a “c” rating to a “b-” rating in a report on Tuesday, November 27th. Finally, ValuEngine cut Buckle from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th.

Shares of NYSE BKE traded up $0.28 during midday trading on Monday, hitting $17.83. 330,381 shares of the stock traded hands, compared to its average volume of 481,099. The stock has a market capitalization of $860.30 million, a price-to-earnings ratio of 9.64 and a beta of 0.44. Buckle has a one year low of $16.85 and a one year high of $29.65.

Buckle (NYSE:BKE) last released its quarterly earnings results on Monday, November 26th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.04). The firm had revenue of $215.10 million for the quarter, compared to the consensus estimate of $218.37 million. Buckle had a net margin of 10.70% and a return on equity of 24.02%. Buckle’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, analysts expect that Buckle will post 1.92 EPS for the current fiscal year.

In related news, Director Karen B. Rhoads sold 4,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $18.85, for a total value of $75,400.00. Following the transaction, the director now directly owns 1,687 shares of the company’s stock, valued at approximately $31,799.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Karen B. Rhoads sold 3,914 shares of the firm’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $19.18, for a total value of $75,070.52. Following the completion of the transaction, the director now directly owns 1,687 shares in the company, valued at $32,356.66. The disclosure for this sale can be found here. 41.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. FMR LLC raised its holdings in Buckle by 0.4% during the second quarter. FMR LLC now owns 7,356,732 shares of the company’s stock valued at $197,896,000 after acquiring an additional 30,583 shares during the period. BlackRock Inc. grew its position in shares of Buckle by 2.9% during the fourth quarter. BlackRock Inc. now owns 4,123,876 shares of the company’s stock valued at $79,756,000 after purchasing an additional 114,450 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Buckle by 6.5% during the third quarter. Vanguard Group Inc. now owns 3,120,985 shares of the company’s stock valued at $71,939,000 after purchasing an additional 190,258 shares in the last quarter. Vanguard Group Inc grew its position in shares of Buckle by 6.5% during the third quarter. Vanguard Group Inc now owns 3,120,985 shares of the company’s stock valued at $71,939,000 after purchasing an additional 190,258 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Buckle by 0.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,052,881 shares of the company’s stock valued at $20,383,000 after purchasing an additional 5,450 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

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, Outpost Makers, Departwest, and Veece.

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