Buckle (NYSE:BKE) Rating Increased to Buy at Wall Street Zen

Buckle (NYSE:BKE) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also commented on BKE. UBS Group restated a “neutral” rating on shares of Buckle in a research report on Friday, January 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Buckle in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Buckle Trading Up 2.5%

Buckle stock opened at $52.15 on Friday. The company has a 50-day moving average price of $53.92 and a 200 day moving average price of $55.16. Buckle has a 12-month low of $33.12 and a 12-month high of $61.69. The stock has a market cap of $2.67 billion, a P/E ratio of 12.78 and a beta of 1.19.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. CWM LLC raised its stake in Buckle by 185.6% during the 2nd quarter. CWM LLC now owns 9,885 shares of the company’s stock valued at $448,000 after acquiring an additional 6,424 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Buckle by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 900,932 shares of the company’s stock valued at $40,861,000 after purchasing an additional 47,751 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Buckle by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 532,522 shares of the company’s stock valued at $24,150,000 after purchasing an additional 9,118 shares during the period. Stevens Capital Partners purchased a new stake in shares of Buckle during the third quarter worth approximately $3,604,000. Finally, Intech Investment Management LLC raised its stake in shares of Buckle by 100.4% during the second quarter. Intech Investment Management LLC now owns 101,543 shares of the company’s stock worth $4,605,000 after purchasing an additional 50,866 shares during the last quarter. 53.93% of the stock is owned by hedge funds and other institutional investors.

About Buckle

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.