Buckle (NYSE:BKE) Raised to “Buy” at Zacks Investment Research

Buckle (NYSE:BKEGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $37.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.16% from the stock’s current price.

According to Zacks, “The Buckle, Inc. is a leading retailer of medium to better-priced casual apparel, footwear, and accessories for fashion-conscious young men and women. Buckle markets a wide selection of brand names and private label casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company emphasizes personalized attention to its guests (customers) and provides individual customer services such as free alterations, layaways, and a frequent shopper program. “

Separately, StockNews.com upgraded shares of Buckle from a “hold” rating to a “buy” rating in a research report on Saturday.

Shares of BKE traded down $0.45 on Wednesday, reaching $32.41. The company’s stock had a trading volume of 443,459 shares, compared to its average volume of 739,702. Buckle has a twelve month low of $26.56 and a twelve month high of $57.10. The stock has a market capitalization of $1.62 billion, a PE ratio of 6.34 and a beta of 1.02. The firm has a fifty day moving average of $32.38 and a 200-day moving average of $37.91.

Buckle (NYSE:BKEGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.22. The company had revenue of $309.10 million during the quarter, compared to analyst estimates of $306.71 million. Buckle had a net margin of 19.38% and a return on equity of 60.56%. Buckle’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. Equities research analysts forecast that Buckle will post 5.25 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of BKE. Renaissance Technologies LLC lifted its stake in Buckle by 167.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,047,168 shares of the company’s stock valued at $34,598,000 after acquiring an additional 655,866 shares during the period. Candlestick Capital Management LP acquired a new position in shares of Buckle during the 3rd quarter valued at about $21,775,000. Vanguard Group Inc. boosted its position in shares of Buckle by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 3,888,951 shares of the company’s stock valued at $128,491,000 after acquiring an additional 381,525 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Buckle by 97.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 693,633 shares of the company’s stock valued at $22,918,000 after acquiring an additional 342,352 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Buckle by 283.2% in the first quarter. First Trust Advisors LP now owns 435,720 shares of the company’s stock valued at $14,396,000 after buying an additional 322,018 shares during the last quarter. 57.48% of the stock is currently owned by institutional investors.

Buckle Company Profile (Get Rating)

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Reclaim, BKE Vintage, Nova Industries, J.B.

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