Buckle (NYSE:BKE) Shares Gap Up – Should You Buy?

The Buckle, Inc. (NYSE:BKE) gapped up before the market opened on Thursday . The stock had previously closed at $36.42, but opened at $37.55. Buckle shares last traded at $35.44, with a volume of 87,488 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com downgraded Buckle from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group lowered their target price on shares of Buckle from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th.

Buckle Stock Down 4.6 %

The firm has a market capitalization of $1.78 billion, a PE ratio of 8.83 and a beta of 0.91. The stock has a 50-day moving average price of $39.63 and a 200 day moving average price of $44.85.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, March 14th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.44 by $0.09. The company had revenue of $379.20 million during the quarter, compared to analyst estimates of $378.97 million. Buckle had a return on equity of 44.11% and a net margin of 16.21%. Buckle’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS.

Buckle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, April 15th. Buckle’s dividend payout ratio is currently 36.08%.

Insider Activity at Buckle

In other news, CEO Dennis H. Nelson sold 15,340 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $39.51, for a total value of $606,083.40. Following the completion of the sale, the chief executive officer now directly owns 1,663,035 shares in the company, valued at $65,706,512.85. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 71,816 shares of company stock valued at $2,898,120. Corporate insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BKE. PNC Financial Services Group Inc. increased its holdings in shares of Buckle by 15.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,756 shares of the company’s stock worth $89,000 after buying an additional 240 shares during the last quarter. Unison Advisors LLC raised its stake in shares of Buckle by 0.8% in the 4th quarter. Unison Advisors LLC now owns 38,166 shares of the company’s stock valued at $1,939,000 after acquiring an additional 307 shares during the period. Quarry LP lifted its holdings in shares of Buckle by 60.9% in the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock worth $41,000 after acquiring an additional 355 shares during the last quarter. DGS Capital Management LLC boosted its position in shares of Buckle by 6.8% during the 3rd quarter. DGS Capital Management LLC now owns 7,131 shares of the company’s stock worth $314,000 after purchasing an additional 451 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Buckle by 1.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 32,802 shares of the company’s stock valued at $1,666,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 53.93% of the company’s stock.

About Buckle

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, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.