Buckle (NYSE:BKE) Shares Gap Up After Strong Earnings

The Buckle, Inc. (NYSE:BKE) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $35.15, but opened at $37.49. Buckle shares last traded at $35.85, with a volume of 81,102 shares changing hands.

The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.09. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The firm had revenue of $379.20 million for the quarter, compared to analyst estimates of $378.97 million. During the same quarter in the prior year, the firm earned $1.59 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year.

Analysts Set New Price Targets

Separately, StockNews.com lowered Buckle from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Insider Transactions at Buckle

In related news, CEO Dennis H. Nelson sold 15,340 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $39.51, for a total transaction of $606,083.40. Following the completion of the sale, the chief executive officer now directly owns 1,663,035 shares in the company, valued at $65,706,512.85. This represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 97,382 shares of company stock worth $4,446,403. 39.80% of the stock is currently owned by insiders.

Institutional Trading of Buckle

Several hedge funds and other institutional investors have recently bought and sold shares of BKE. SBI Securities Co. Ltd. purchased a new position in shares of Buckle in the fourth quarter worth $31,000. Caption Management LLC purchased a new position in shares of Buckle in the fourth quarter valued at about $36,000. Quarry LP raised its stake in shares of Buckle by 60.9% during the third quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after acquiring an additional 355 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Buckle by 268.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 825 shares of the company’s stock worth $42,000 after purchasing an additional 601 shares during the period. Finally, Bellwether Advisors LLC bought a new stake in shares of Buckle in the fourth quarter worth about $43,000. Institutional investors own 53.93% of the company’s stock.

Buckle Trading Up 2.4 %

The business has a fifty day moving average of $44.86 and a 200-day moving average of $45.68. The company has a market cap of $1.83 billion, a PE ratio of 9.14 and a beta of 1.17.

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.