Buckle (NYSE:BKE) Hits New 12-Month Low - What's Next?

Key Points

• Buckle shares fell to a new 52-week low of $39.44, closing near $39.64. The stock trades below its 50-day and 200-day moving averages of $43.30 and $47.17, respectively.
• Analysts maintain a cautious outlook, with an average rating of “Hold” and an average price target of $46.00; UBS reaffirmed its neutral rating while Weiss Ratings downgraded its hold assessment.
• Buckle exceeded quarterly earnings expectations with EPS of $0.87 versus $0.81 expected, while revenue rose 4.6% year over year to $319.82 million. The company also declared a quarterly dividend of $0.35 per share, representing a 3.5% annualized yield.

Buckle, Inc. (The) (NYSE:BKE - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $39.44 and last traded at $39.64, with a volume of 633447 shares changing hands. The stock had previously closed at $40.27.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BKE. Weiss Ratings downgraded shares of Buckle from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, August 14th. UBS Group reaffirmed a "neutral" rating on shares of Buckle in a research report on Monday, August 24th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Buckle has an average rating of "Hold" and an average price target of $46.00.

Buckle Price Performance

The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 9.13 and a beta of 1.11. The stock's 50 day simple moving average is $43.30 and its two-hundred day simple moving average is $47.17.

Buckle (NYSE:BKE - Get Free Report) last announced its quarterly earnings data on Friday, August 21st. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The company had revenue of $319.82 million during the quarter, compared to analysts' expectations of $319.80 million. During the same quarter in the prior year, the company posted $0.89 EPS. The business's revenue was up 4.6% on a year-over-year basis.

Buckle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.5%. Buckle's dividend payout ratio (DPR) is currently 32.26%.

Institutional Investors Weigh In On Buckle

A number of institutional investors have recently added to or reduced their stakes in BKE. Public Employees Retirement System of Ohio bought a new position in shares of Buckle during the 2nd quarter worth approximately $36,000. Integrated Wealth Concepts LLC bought a new position in shares of Buckle during the second quarter valued at $37,000. Hantz Financial Services Inc. lifted its holdings in shares of Buckle by 51.6% during the fourth quarter. Hantz Financial Services Inc. now owns 702 shares of the company's stock valued at $38,000 after acquiring an additional 239 shares during the period. Allworth Financial LP bought a new position in shares of Buckle during the second quarter valued at $48,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Buckle in the 4th quarter valued at $88,000. 53.93% of the stock is owned by institutional investors and hedge funds.

About Buckle

Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories for young men and women. Its merchandise includes denim, tops, bottoms, dresses, outerwear, shoes, jewelry and other fashion accessories, combining national brands with merchandise sold under the company's private-label brands.

The company sells its products through a network of retail stores across the United States and through its e-commerce platform. Buckle stores typically emphasize personalized customer service and offer services such as complimentary alterations.

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