Buckle (NYSE:BKE) Shares Cross Above 200 Day Moving Average – What’s Next?

Buckle, Inc. (The) (NYSE:BKE) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $47.29 and traded as high as $48.74. Buckle shares last traded at $47.9430, with a volume of 547,048 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of Buckle from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. UBS Group reaffirmed a “neutral” rating on shares of Buckle in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.00.

Buckle Stock Down 5.3%

The company has a 50 day simple moving average of $43.68 and a two-hundred day simple moving average of $47.19. The company has a market capitalization of $2.16 billion, a P/E ratio of 9.68 and a beta of 1.14.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, August 21st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $319.82 million during the quarter, compared to analyst estimates of $319.80 million. Buckle had a return on equity of 46.91% and a net margin of 16.62%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS.

Buckle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Thursday, October 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, October 15th. Buckle’s dividend payout ratio (DPR) is 32.26%.

Insider Activity

In related news, Director Bill Fairfield sold 8,500 shares of Buckle stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $46.38, for a total transaction of $394,230.00. Following the completion of the transaction, the director directly owned 44,408 shares of the company’s stock, valued at approximately $2,059,643.04. The trade was a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott A. Werth sold 2,500 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $46.75, for a total transaction of $116,875.00. Following the transaction, the senior vice president owned 46,960 shares in the company, valued at $2,195,380. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 38.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Buckle

Hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp raised its stake in Buckle by 7.8% in the third quarter. Fifth Third Bancorp now owns 7,795 shares of the company’s stock worth $335,000 after buying an additional 567 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in Buckle during the third quarter worth $292,000. Fulcrum Asset Management LLP bought a new stake in Buckle during the 3rd quarter valued at $622,000. Alps Advisors Inc. bought a new stake in Buckle during the 3rd quarter valued at $2,746,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Buckle during the 3rd quarter valued at $1,264,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Buckle Company Profile

Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories for fashion-conscious young men and women. The company offers a broad selection of denim, tops, bottoms, outerwear, dresses, activewear, shoes, jewelry and other accessories from national brands and its own private-label collections, including BKE and Buckle Black.

The company sells merchandise through its network of retail stores across the United States and through its e-commerce platform. Buckle stores generally emphasize personalized customer service, denim fittings and outfit coordination, while its online channel provides access to apparel and accessories for customers outside its store markets.

Buckle traces its origins to 1948, when it began as a clothing store in Kearney, Nebraska.