Buckle (NYSE:BKE) Sets New 52-Week Low – What’s Next?

The Buckle, Inc. (NYSE:BKE)’s share price reached a new 52-week low on Thursday . The stock traded as low as $34.67 and last traded at $35.02, with a volume of 277114 shares trading hands. The stock had previously closed at $36.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Buckle from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Buckle Stock Performance

The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 9.15 and a beta of 1.17. The company’s 50 day simple moving average is $44.22 and its two-hundred day simple moving average is $45.57.

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

Insider Transactions at Buckle

In related news, CEO Dennis H. Nelson sold 20,453 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $51.37, for a total transaction of $1,050,670.61. Following the completion of the sale, the chief executive officer now directly owns 1,760,187 shares of the company’s stock, valued at approximately $90,420,806.19. This represents a 1.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 97,382 shares of company stock worth $4,446,403 in the last 90 days. 39.80% of the stock is owned by insiders.

Institutional Trading of Buckle

Several large investors have recently modified their holdings of BKE. Balyasny Asset Management L.P. boosted its holdings in shares of Buckle by 515.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 294,953 shares of the company’s stock worth $14,987,000 after buying an additional 247,019 shares during the period. Nuveen Asset Management LLC boosted its holdings in Buckle by 180.6% in the 4th quarter. Nuveen Asset Management LLC now owns 284,713 shares of the company’s stock valued at $14,466,000 after purchasing an additional 183,257 shares during the period. Teacher Retirement System of Texas boosted its holdings in Buckle by 442.8% in the 4th quarter. Teacher Retirement System of Texas now owns 190,450 shares of the company’s stock valued at $9,677,000 after purchasing an additional 155,366 shares during the period. First Trust Advisors LP boosted its holdings in Buckle by 9.0% in the 4th quarter. First Trust Advisors LP now owns 1,663,407 shares of the company’s stock valued at $84,518,000 after purchasing an additional 137,972 shares during the period. Finally, Impala Asset Management LLC boosted its holdings in Buckle by 43.3% in the 3rd quarter. Impala Asset Management LLC now owns 365,000 shares of the company’s stock valued at $16,049,000 after purchasing an additional 110,273 shares during the period. 53.93% of the stock is owned by institutional investors.

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.