ValuEngine Upgrades Buckle (BKE) to “Strong-Buy”

Buckle (NYSE:BKE) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

Separately, Zacks Investment Research upgraded shares of Buckle from a “sell” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, November 1st.

Shares of Buckle (NYSE BKE) traded down $0.75 during trading on Friday, reaching $23.75. 399,700 shares of the company’s stock were exchanged, compared to its average volume of 785,281. Buckle has a twelve month low of $13.50 and a twelve month high of $25.00. The firm has a market cap of $1,200.00, a price-to-earnings ratio of 13.73 and a beta of 1.10.

Buckle (NYSE:BKE) last issued its quarterly earnings results on Friday, November 17th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Buckle had a net margin of 9.17% and a return on equity of 19.13%. The business had revenue of $224.30 million for the quarter, compared to analyst estimates of $224.12 million. During the same quarter in the prior year, the business posted $0.49 EPS. Buckle’s revenue for the quarter was down 6.2% compared to the same quarter last year. analysts expect that Buckle will post 1.7 EPS for the current fiscal year.

In other Buckle news, VP Kyle Hanson sold 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $15.95, for a total transaction of $65,395.00. Following the transaction, the vice president now owns 24,900 shares in the company, valued at approximately $397,155. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brett P. Milkie sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $21.02, for a total transaction of $31,530.00. Following the transaction, the senior vice president now owns 32,070 shares in the company, valued at approximately $674,111.40. The disclosure for this sale can be found here. Insiders have sold a total of 7,600 shares of company stock worth $138,925 in the last 90 days. 41.70% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Adams Asset Advisors LLC increased its stake in shares of Buckle by 36.3% in the third quarter. Adams Asset Advisors LLC now owns 74,596 shares of the company’s stock worth $1,256,000 after acquiring an additional 19,861 shares during the period. Victory Capital Management Inc. increased its stake in shares of Buckle by 5,476.3% in the third quarter. Victory Capital Management Inc. now owns 1,341,438 shares of the company’s stock worth $22,603,000 after acquiring an additional 1,317,382 shares during the period. South Dakota Investment Council increased its stake in shares of Buckle by 14.7% in the second quarter. South Dakota Investment Council now owns 233,500 shares of the company’s stock worth $4,156,000 after acquiring an additional 30,000 shares during the period. Sprucegrove Investment Management Ltd. increased its stake in shares of Buckle by 4.6% in the second quarter. Sprucegrove Investment Management Ltd. now owns 441,600 shares of the company’s stock worth $7,860,000 after acquiring an additional 19,300 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Buckle by 12.5% in the third quarter. Rhumbline Advisers now owns 106,615 shares of the company’s stock worth $1,796,000 after acquiring an additional 11,830 shares during the period. Hedge funds and other institutional investors own 59.65% of the company’s stock.

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About Buckle

The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. As of January 28, 2017, the Company operated 467 retail stores in 44 states throughout the United States under the names Buckle and The Buckle. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear.

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