Buckle (NYSE:BKE) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Buckle shares rose 3.7% and crossed above their 200-day moving average of $47.29, last trading at about $47.94.
• Analyst sentiment remains cautious: the two analysts cited rate the stock “Hold,” with a consensus price target of $46.
• In its latest reported quarter, Buckle beat EPS estimates ($0.87 versus $0.81) and revenue grew 4.6% year over year; it also pays a quarterly dividend of $0.35.

Buckle, Inc. (The) (NYSE:BKE - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $47.29 and traded as high as $48.74. Buckle shares last traded at $47.9430, with a volume of 547,048 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BKE shares. Weiss Ratings raised shares of Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. UBS Group reissued a "neutral" rating on shares of Buckle in a report on Monday, August 24th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, Buckle presently has a consensus rating of "Hold" and a consensus price target of $46.00.

Buckle Trading Up 3.7%

The company's fifty day moving average is $43.69 and its 200 day moving average is $47.29. The company has a market cap of $2.47 billion, a P/E ratio of 11.05 and a beta of 1.14.

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

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Thursday, October 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, October 15th. Buckle's dividend payout ratio is currently 32.26%.

Insider Activity

In related news, Director Bill L. Fairfield sold 8,500 shares of the firm's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $46.38, for a total value of $394,230.00. Following the transaction, the director directly owned 44,408 shares of the company's stock, valued at approximately $2,059,643.04. This trade represents a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott A. Werth sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $46.75, for a total transaction of $116,875.00. Following the completion of the transaction, the senior vice president owned 46,960 shares of the company's stock, valued at approximately $2,195,380. The trade was a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 38.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Buckle

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Buckle in the second quarter valued at $208,888,000. Dimensional Fund Advisors LP grew its stake in shares of Buckle by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company's stock worth $67,582,000 after acquiring an additional 30,128 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Buckle by 6.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,167,752 shares of the company's stock valued at $58,808,000 after acquiring an additional 72,550 shares during the period. Bank of New York Mellon Corp acquired a new stake in Buckle during the 2nd quarter valued at approximately $27,466,000. Finally, Impala Asset Management LLC grew its holdings in Buckle by 4.9% during the first quarter. Impala Asset Management LLC now owns 419,578 shares of the company's stock worth $21,130,000 after acquiring an additional 19,459 shares during the period. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

About Buckle

Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories for fashion-conscious young men and women. The company offers a broad selection of denim, tops, bottoms, outerwear, dresses, activewear, shoes, jewelry and other accessories from national brands and its own private-label collections, including BKE and Buckle Black.

The company sells merchandise through its network of retail stores across the United States and through its e-commerce platform. Buckle stores generally emphasize personalized customer service, denim fittings and outfit coordination, while its online channel provides access to apparel and accessories for customers outside its store markets.

Buckle traces its origins to 1948, when it began as a clothing store in Kearney, Nebraska.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.