Buckle Inc. (BKE) Sees Unusually-High Trading Volume
Shares of Buckle Inc. (NYSE:BKE) saw strong trading volume on Thursday . 786,533 shares changed hands during trading, an increase of 80% from the previous session’s volume of 437,181 shares.The stock last traded at $26.95 and had previously closed at $26.15.
A number of research analysts have recently commented on the company. Deutsche Bank AG assumed coverage on Buckle in a report on Tuesday, April 26th. They set a “sell” rating and a $26.00 price target for the company. Zacks Investment Research upgraded Buckle from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Wolfe Research lowered Buckle from a “peer perform” rating to an “underperform” rating and set a $23.00 target price for the company. in a research note on Friday, May 6th. Finally, KeyCorp restated an “equal weight” rating on shares of Buckle in a research note on Sunday, June 26th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.80.
The company has a market capitalization of $1.30 billion and a PE ratio of 9.49. The stock has a 50-day moving average of $26.28 and a 200-day moving average of $28.15.
Buckle (NYSE:BKE) last posted its quarterly earnings results on Friday, May 20th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.08. The business earned $243.50 million during the quarter. During the same period in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. Equities research analysts anticipate that Buckle Inc. will post $2.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Friday, July 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%.
In other Buckle news, VP Kyle Hanson sold 5,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $26.13, for a total value of $141,102.00. Following the completion of the transaction, the vice president now directly owns 25,400 shares in the company, valued at $663,702. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kelli D. Molczyk sold 4,000 shares of Buckle stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $26.71, for a total value of $106,840.00. Following the transaction, the vice president now owns 21,163 shares of the company’s stock, valued at $565,263.73. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of BKE. Wells Fargo & Company MN increased its position in shares of Buckle by 90.3% in the fourth quarter. Wells Fargo & Company MN now owns 470,579 shares of the company’s stock valued at $14,484,000 after buying an additional 223,344 shares in the last quarter. Rhumbline Advisers increased its position in shares of Buckle by 4.2% in the fourth quarter. Rhumbline Advisers now owns 57,814 shares of the company’s stock valued at $1,780,000 after buying an additional 2,330 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Buckle by 47.3% in the fourth quarter. First Trust Advisors LP now owns 40,712 shares of the company’s stock valued at $1,253,000 after buying an additional 13,064 shares in the last quarter.
The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company provides customer services, such as free hemming, free gift-wrapping, easy layaways, the Buckle private label credit card, and a frequent shopper program.
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