Wall Street Zen Upgrades Buckle (NYSE:BKE) to Buy

Buckle (NYSE:BKE) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on BKE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Buckle in a research report on Wednesday, January 21st. UBS Group restated a “neutral” rating on shares of Buckle in a research note on Friday, January 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Buckle has a consensus rating of “Hold” and an average price target of $55.00.

Buckle Price Performance

Buckle stock opened at $52.15 on Friday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 12.78 and a beta of 1.19. The firm has a 50-day moving average of $53.92 and a two-hundred day moving average of $55.16. Buckle has a 1 year low of $33.12 and a 1 year high of $61.69.

Buckle (NYSE:BKE) last posted its quarterly earnings results on Friday, November 21st. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. The business had revenue of $320.84 million for the quarter, compared to the consensus estimate of $317.97 million. Buckle had a return on equity of 44.42% and a net margin of 16.13%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS.

Institutional Trading of Buckle

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP boosted its position in Buckle by 3,695.1% during the third quarter. Two Sigma Investments LP now owns 242,510 shares of the company’s stock worth $14,226,000 after acquiring an additional 236,120 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Buckle by 376.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,920 shares of the company’s stock worth $16,948,000 after purchasing an additional 228,260 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Buckle in the 3rd quarter worth approximately $10,393,000. Squarepoint Ops LLC boosted its holdings in shares of Buckle by 322.4% during the 2nd quarter. Squarepoint Ops LLC now owns 166,626 shares of the company’s stock worth $7,556,000 after purchasing an additional 127,177 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Buckle by 32.6% in the fourth quarter. UBS Group AG now owns 489,306 shares of the company’s stock valued at $26,139,000 after purchasing an additional 120,215 shares in the last quarter. Hedge funds and other institutional investors own 53.93% of the company’s stock.

Buckle Company Profile

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.