Buckle (NYSE:BKE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Buckle, Inc. (The) (NYSE:BKE)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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.

Analyst Ratings Changes

Several research analysts have recently commented on BKE shares. Weiss Ratings upgraded Buckle from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. UBS Group reiterated a “neutral” rating on shares of Buckle in a research note on Monday, August 24th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.00.

Buckle Trading Up 3.7%

The company has a market capitalization of $2.47 billion, a PE ratio of 11.05 and a beta of 1.14. The business’s 50-day simple moving average is $43.69 and its two-hundred day simple moving average is $47.29.

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

Buckle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Thursday, October 15th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 15th. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. Buckle’s payout ratio is currently 32.26%.

Insider Activity at Buckle

In other news, Director Bill L. Fairfield sold 8,500 shares of Buckle stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $46.38, for a total value of $394,230.00. Following the transaction, the director owned 44,408 shares of the company’s stock, valued at $2,059,643.04. The trade was a 16.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Scott A. Werth sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $46.75, for a total transaction of $116,875.00. Following the transaction, the senior vice president directly owned 46,960 shares in the company, valued at approximately $2,195,380. The trade was a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 38.40% of the stock is owned by company insiders.

Institutional Trading of Buckle

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Buckle during the 2nd quarter worth $208,888,000. Dimensional Fund Advisors LP raised its holdings in shares of Buckle by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock valued at $67,582,000 after purchasing an additional 30,128 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Buckle by 6.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,167,752 shares of the company’s stock valued at $58,808,000 after purchasing an additional 72,550 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Buckle in the 2nd quarter valued at $27,466,000. Finally, Impala Asset Management LLC lifted its stake in shares of Buckle by 4.9% in the 1st quarter. Impala Asset Management LLC now owns 419,578 shares of the company’s stock valued at $21,130,000 after purchasing an additional 19,459 shares during the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.