Buckle (NYSE:BKE) Hits New 52-Week Low – Should You Sell?

Buckle, Inc. (The) (NYSE:BKE) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $39.44 and last traded at $39.64, with a volume of 633447 shares changing hands. The stock had previously closed at $40.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BKE shares. UBS Group reiterated a “neutral” rating on shares of Buckle in a report on Monday, August 24th. Weiss Ratings downgraded Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Buckle presently has a consensus rating of “Hold” and an average price target of $46.00.

Buckle Stock Performance

The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 9.31 and a beta of 1.11. The company’s 50 day simple moving average is $43.25 and its two-hundred day simple moving average is $46.97.

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

Buckle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 15th. Buckle’s dividend payout ratio is presently 32.26%.

Institutional Investors Weigh In On Buckle

Several institutional investors have recently made changes to their positions in BKE. BlackRock Inc. acquired a new stake in shares of Buckle in the 2nd quarter valued at $208,888,000. Dimensional Fund Advisors LP increased its position in Buckle by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock worth $67,582,000 after buying an additional 30,128 shares during the last quarter. Renaissance Technologies LLC increased its position in Buckle by 6.6% during the first quarter. Renaissance Technologies LLC now owns 1,167,752 shares of the company’s stock worth $58,808,000 after buying an additional 72,550 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Buckle during the second quarter valued at about $27,466,000. Finally, Impala Asset Management LLC raised its holdings in Buckle by 4.9% during the first quarter. Impala Asset Management LLC now owns 419,578 shares of the company’s stock valued at $21,130,000 after buying an additional 19,459 shares in 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 young men and women. Its merchandise includes denim, tops, bottoms, dresses, outerwear, shoes, jewelry and other fashion accessories, combining national brands with merchandise sold under the company’s private-label brands.

The company sells its products through a network of retail stores across the United States and through its e-commerce platform. Buckle stores typically emphasize personalized customer service and offer services such as complimentary alterations.