Buckle (NYSE:BKE) Sets New 1-Year High - What's Next?

Key Points

• Buckle, Inc. reached a new 52-week high, trading as high as $61.08, with a recent price of $60.80 and a market cap of $3.13 billion.
• Analysts have issued mixed ratings, with a consensus "Hold" rating and a target price of $54.00, while some upgraded their ratings to "buy."
• The company reported $0.89 EPS in its last quarterly earnings, exceeding estimates, and has announced a dividend of $0.35 per share, yielding 2.3% for investors.

Buckle, Inc. (The) (NYSE:BKE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $61.08 and last traded at $60.80, with a volume of 71126 shares traded. The stock had previously closed at $59.80.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BKE shares. Wall Street Zen upgraded shares of Buckle from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. UBS Group lifted their price target on shares of Buckle from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Buckle presently has a consensus rating of "Hold" and an average target price of $54.00.

Buckle Price Performance

The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 15.20 and a beta of 1.02. The business's fifty day simple moving average is $53.42 and its 200 day simple moving average is $44.39.

Buckle (NYSE:BKE - Get Free Report) last announced its quarterly earnings results on Friday, August 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. Buckle had a net margin of 16.12% and a return on equity of 43.97%. The company had revenue of $305.74 million during the quarter, compared to the consensus estimate of $292.61 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year.

Buckle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Investors of record on Wednesday, October 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $1.40 annualized dividend and a yield of 2.3%. Buckle's dividend payout ratio is presently 35.00%.

Insider Activity at Buckle

In related news, SVP Brett P. Milkie sold 6,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $60.17, for a total value of $361,020.00. Following the completion of the sale, the senior vice president owned 89,570 shares of the company's stock, valued at $5,389,426.90. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kari G. Smith sold 20,000 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $59.36, for a total transaction of $1,187,200.00. Following the completion of the sale, the executive vice president directly owned 150,354 shares of the company's stock, valued at $8,925,013.44. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,500 shares of company stock worth $3,320,030. 39.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Buckle

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its position in Buckle by 1,928.1% in the first quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock worth $25,000 after acquiring an additional 617 shares in the last quarter. Allworth Financial LP raised its position in Buckle by 1,652.3% in the second quarter. Allworth Financial LP now owns 771 shares of the company's stock worth $35,000 after acquiring an additional 727 shares in the last quarter. EverSource Wealth Advisors LLC raised 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. SBI Securities Co. Ltd. raised its position in Buckle by 64.9% in the second quarter. SBI Securities Co. Ltd. now owns 999 shares of the company's stock worth $45,000 after acquiring an additional 393 shares in the last quarter. Finally, State of Wyoming bought a new stake in Buckle in the fourth quarter worth about $111,000. 53.93% of the stock is currently owned by institutional investors.

Buckle Company Profile

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, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.