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

Zacks Investment Research upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $19.00 target price 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 recently weighed in on BKE. ValuEngine cut Willdan Group from a buy rating to a hold rating in a research note on Thursday, May 30th. TheStreet cut WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th.

NYSE:BKE opened at $19.58 on Wednesday. The business’s 50-day moving average price is $16.49. The firm has a market capitalization of $963.92 million, a price-to-earnings ratio of 10.36 and a beta of 0.74. Buckle has a 52-week low of $14.81 and a 52-week high of $29.65. The company has a current ratio of 2.30, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75.

Buckle (NYSE:BKE) last issued 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). The company had revenue of $201.31 million during the quarter, compared to analysts’ expectations of $200.93 million. Buckle had a return on equity of 22.96% and a net margin of 10.47%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, equities analysts anticipate that Buckle will post 1.8 earnings per share for the current fiscal year.

The business also recently declared 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 of this dividend is Thursday, July 11th. This represents a $1.00 dividend on an annualized basis and a yield of 5.11%. Buckle’s dividend payout ratio is currently 50.76%.

In other Buckle news, Director Robert Erle Campbell sold 2,000 shares of Buckle stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $19.00, for a total transaction of $38,000.00. Following the transaction, the director now owns 30,464 shares of the company’s stock, valued at approximately $578,816. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 41.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BKE. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Buckle by 465.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,457 shares of the company’s stock valued at $202,000 after buying an additional 8,608 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Buckle during the 4th quarter valued at about $209,000. 6 Meridian acquired a new stake in shares of Buckle during the 1st quarter valued at about $212,000. Squarepoint Ops LLC acquired a new stake in shares of Buckle during the 4th quarter valued at about $226,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Buckle by 42.1% during the 4th quarter. Hsbc Holdings PLC now owns 12,482 shares of the company’s stock valued at $241,000 after buying an additional 3,700 shares during the last quarter. 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.

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