Buckle (NYSE:BKE) Sets New 1-Year Low – What’s Next?

Buckle, Inc. (The) (NYSE:BKE) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $40.75 and last traded at $40.83, with a volume of 16554 shares trading hands. The stock had previously closed at $41.46.

Analysts Set New Price Targets

BKE has been the subject of several analyst reports. UBS Group cut their price objective on shares of Buckle from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, June 1st. Wall Street Zen cut shares of Buckle from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings downgraded Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Buckle has a consensus rating of “Hold” and an average target price of $47.00.

Buckle Trading Up 0.2%

The stock has a fifty day simple moving average of $46.68 and a two-hundred day simple moving average of $50.48. The firm has a market cap of $2.14 billion, a PE ratio of 9.51 and a beta of 1.08.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, May 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The firm had revenue of $288.74 million for the quarter, compared to the consensus estimate of $287.68 million. Buckle had a net margin of 16.85% and a return on equity of 47.35%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share.

Buckle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, July 15th. Buckle’s payout ratio is 32.11%.

Insider Transactions at Buckle

In related news, EVP Kari G. Smith sold 30,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $54.57, for a total value of $1,637,100.00. Following the sale, the executive vice president owned 83,814 shares in the company, valued at approximately $4,573,729.98. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bill L. Fairfield sold 2,500 shares of Buckle stock in a transaction on Monday, June 8th. The shares were sold at an average price of $44.44, for a total value of $111,100.00. Following the sale, the director directly owned 52,908 shares of the company’s stock, valued at $2,351,231.52. This represents a 4.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,700 shares of company stock valued at $2,635,960. 39.00% of the stock is currently owned by company insiders.

Institutional Trading of Buckle

A number of large investors have recently modified their holdings of BKE. Geneos Wealth Management Inc. raised its stake in Buckle by 1,928.1% in the first quarter. Geneos Wealth Management Inc. now owns 649 shares of the company’s stock valued at $25,000 after purchasing an additional 617 shares in the last quarter. Miller Capital Partners Inc. bought a new position in shares of Buckle in the 4th quarter worth $37,000. Hantz Financial Services Inc. raised its position in shares of Buckle by 51.6% during the 4th quarter. Hantz Financial Services Inc. now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 239 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Buckle by 162.2% in the second quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company’s stock worth $43,000 after acquiring an additional 592 shares in the last quarter. Finally, Quarry LP purchased a new stake in Buckle during the third quarter valued at about $65,000. 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.