Buckle (NYSE:BKE) Upgraded by StockNews.com to Buy Rating

Buckle (NYSE:BKE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, UBS Group raised Buckle from a “sell” rating to a “neutral” rating and increased their price target for the company from $31.00 to $46.00 in a report on Tuesday, November 12th.

Buckle Stock Up 1.0 %

BKE opened at $51.63 on Friday. The firm’s 50 day moving average is $49.37 and its 200-day moving average is $43.93. Buckle has a 52-week low of $34.87 and a 52-week high of $54.25. The firm has a market capitalization of $2.62 billion, a P/E ratio of 13.10 and a beta of 1.14.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, November 22nd. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $293.60 million for the quarter, compared to analysts’ expectations of $293.60 million. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS.

Insider Transactions at Buckle

In other Buckle news, CEO Dennis H. Nelson sold 20,453 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $51.37, for a total transaction of $1,050,670.61. Following the completion of the sale, the chief executive officer now owns 1,760,187 shares in the company, valued at $90,420,806.19. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Peetz sold 2,500 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $51.70, for a total transaction of $129,250.00. Following the sale, the director now directly owns 22,123 shares in the company, valued at $1,143,759.10. This trade represents a 10.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,265 shares of company stock valued at $6,414,313. Insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Impala Asset Management LLC grew its position in Buckle by 43.3% in the 3rd quarter. Impala Asset Management LLC now owns 365,000 shares of the company’s stock valued at $16,049,000 after buying an additional 110,273 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Buckle during the third quarter valued at approximately $4,753,000. Pacer Advisors Inc. increased its stake in shares of Buckle by 4.5% during the second quarter. Pacer Advisors Inc. now owns 2,100,398 shares of the company’s stock valued at $77,589,000 after acquiring an additional 90,190 shares during the period. American Century Companies Inc. raised its holdings in Buckle by 14.0% during the second quarter. American Century Companies Inc. now owns 716,090 shares of the company’s stock worth $26,452,000 after purchasing an additional 87,690 shares in the last quarter. Finally, State Street Corp increased its position in shares of Buckle by 5.7% during the 3rd quarter. State Street Corp now owns 1,338,395 shares of the company’s stock valued at $58,849,000 after purchasing an additional 72,532 shares during the period. Institutional investors and hedge funds own 53.93% 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, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.