Buckle (NYSE:BKE) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Buckle (NYSE:BKE) from a hold rating to a buy rating in a research report report published on Saturday.

Several other research analysts have also recently weighed in on the company. UBS Group reiterated a “neutral” rating on shares of Buckle in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Buckle in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Buckle presently has a consensus rating of “Hold” and an average price target of $55.00.

Buckle Stock Performance

NYSE BKE opened at $52.15 on Friday. The stock has a market cap of $2.67 billion, a PE ratio of 12.78 and a beta of 1.19. The firm has a 50-day moving average of $53.92 and a 200-day moving average of $55.20. Buckle has a 52-week low of $33.12 and a 52-week high of $61.69.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, November 21st. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Buckle had a net margin of 16.13% and a return on equity of 44.42%. The business had revenue of $320.84 million for the quarter, compared to analyst estimates of $317.97 million. During the same quarter in the prior year, the business earned $0.88 EPS. Buckle’s quarterly revenue was up 9.3% on a year-over-year basis.

Buckle Dividend Announcement

The firm also recently announced a special dividend, which was paid on Thursday, January 29th. Shareholders of record on Thursday, January 15th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, January 15th. Buckle’s dividend payout ratio is presently 34.31%.

Hedge Funds Weigh In On Buckle

Several hedge funds and other institutional investors have recently modified their holdings of BKE. CWM LLC increased its stake in shares of Buckle by 185.6% in the second quarter. CWM LLC now owns 9,885 shares of the company’s stock valued at $448,000 after buying an additional 6,424 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Buckle by 5.6% during the second quarter. Geode Capital Management LLC now owns 900,932 shares of the company’s stock worth $40,861,000 after purchasing an additional 47,751 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Buckle by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 532,522 shares of the company’s stock worth $24,150,000 after purchasing an additional 9,118 shares during the last quarter. Intech Investment Management LLC increased its holdings in Buckle by 100.4% in the second quarter. Intech Investment Management LLC now owns 101,543 shares of the company’s stock valued at $4,605,000 after purchasing an additional 50,866 shares during the period. Finally, Stevens Capital Partners bought a new position in Buckle during the 3rd quarter worth $3,604,000. Institutional investors own 53.93% of the company’s stock.

Buckle Company Profile

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.