Buckle (NYSE:BKE) issued its quarterly earnings results on Friday. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04, MarketWatch Earnings reports. The company had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $267.55 million. Buckle had a return on equity of 24.02% and a net margin of 10.70%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS.
BKE traded down $0.46 during trading on Friday, reaching $17.62. 1,625,478 shares of the stock traded hands, compared to its average volume of 559,384. The stock has a market cap of $863.70 million, a price-to-earnings ratio of 9.52 and a beta of 0.47. Buckle has a fifty-two week low of $16.85 and a fifty-two week high of $29.65.
BKE has been the topic of a number of recent research reports. ValuEngine upgraded Buckle from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Zacks Investment Research upgraded Buckle from a “sell” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Tuesday, January 29th. Deutsche Bank cut Buckle from a “hold” rating to a “sell” rating and set a $16.00 target price on the stock. in a report on Friday, March 8th. Finally, TheStreet upgraded Buckle from a “c” rating to a “b-” rating in a report on Tuesday, November 27th.
In related news, Director Karen B. Rhoads sold 4,000 shares of Buckle stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $18.85, for a total transaction of $75,400.00. Following the completion of the sale, the director now owns 1,687 shares of the company’s stock, valued at $31,799.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 41.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Buckle by 1.4% during the fourth quarter. American Century Companies Inc. now owns 265,961 shares of the company’s stock valued at $5,144,000 after purchasing an additional 3,578 shares during the last quarter. Geode Capital Management LLC boosted its position in Buckle by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 329,558 shares of the company’s stock valued at $6,373,000 after purchasing an additional 16,675 shares during the last quarter. Norges Bank acquired a new stake in Buckle during the fourth quarter valued at $11,332,000. Municipal Employees Retirement System of Michigan acquired a new stake in Buckle during the fourth quarter valued at $245,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Buckle by 465.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,457 shares of the company’s stock valued at $202,000 after purchasing an additional 8,608 shares during the last quarter. 68.19% of the stock is owned by hedge funds and other 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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, Outpost Makers, Departwest, and Veece.
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