Buckle (NYSE:BKE) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a research report sent to investors on Wednesday, 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. “

A number of other brokerages have also commented on BKE. ValuEngine lowered shares of Willdan Group from a buy rating to a hold rating in a report on Thursday, May 30th. TheStreet lowered shares of WESCO International from a b- rating to a c+ rating in a report on Friday, May 24th.

Shares of BKE traded up $0.29 during trading hours on Wednesday, hitting $17.31. The stock had a trading volume of 947,199 shares, compared to its average volume of 559,279. The company’s fifty day moving average price is $16.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.30 and a quick ratio of 1.58. Buckle has a 52 week low of $14.81 and a 52 week high of $29.65. The stock has a market capitalization of $844.79 million, a PE ratio of 8.79 and a beta of 0.74.

Buckle (NYSE:BKE) last issued its quarterly earnings data on Friday, May 24th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $200.93 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, analysts anticipate that Buckle will post 1.73 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Thursday, July 11th. Buckle’s dividend payout ratio is currently 50.76%.

In other Buckle 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 transaction of $38,000.00. Following the sale, the director now owns 30,464 shares of the company’s stock, valued at approximately $578,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 41.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BKE. Unison Advisors LLC boosted its position in Buckle by 6.6% during the second quarter. Unison Advisors LLC now owns 17,157 shares of the company’s stock worth $297,000 after purchasing an additional 1,065 shares during the period. WINTON GROUP Ltd bought a new position in Buckle during the second quarter worth $431,000. RK Asset Management LLC boosted its position in Buckle by 217.1% during the second quarter. RK Asset Management LLC now owns 369,868 shares of the company’s stock worth $6,402,000 after purchasing an additional 253,225 shares during the period. Hancock Whitney Corp boosted its position in Buckle by 1.3% during the first quarter. Hancock Whitney Corp now owns 73,135 shares of the company’s stock worth $1,369,000 after purchasing an additional 903 shares during the period. Finally, GAM Holding AG boosted its position in Buckle by 8.4% during the first quarter. GAM Holding AG now owns 81,310 shares of the company’s stock worth $1,522,000 after purchasing an additional 6,300 shares during the period. 66.52% 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.

See Also: Cost of equity and a company’s balance sheet

Get a free copy of the Zacks research report on Buckle (BKE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Buckle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckle and related companies with MarketBeat.com's FREE daily email newsletter.