Buckle (NYSE:BKE) Shares Gap Up After Strong Earnings

The Buckle, Inc. (NYSE:BKE - Get Free Report)'s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $35.15, but opened at $37.49. Buckle shares last traded at $35.85, with a volume of 81,102 shares.

The company reported $1.53 earnings per share 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 firm had revenue of $379.20 million for the quarter, compared to analysts' expectations of $378.97 million. During the same period in the previous year, the company posted $1.59 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BKE shares. StockNews.com cut shares of Buckle from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. UBS Group lowered their price objective on shares of Buckle from $43.00 to $41.00 and set a "neutral" rating for the company in a research report on Tuesday.

Insider Activity

In other news, CEO Dennis H. Nelson sold 20,453 shares of Buckle stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $43.42, for a total value of $888,069.26. Following the completion of the transaction, the chief executive officer now owns 1,698,828 shares of the company's stock, valued at $73,763,111.76. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 76,929 shares of company stock valued at $3,395,733 in the last quarter. Company insiders own 39.80% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Buckle during the fourth quarter worth $31,000. Caption Management LLC bought a new stake in Buckle in the fourth quarter valued at approximately $36,000. Quarry LP boosted its holdings in shares of Buckle by 60.9% during the 3rd quarter. Quarry LP now owns 938 shares of the company's stock worth $41,000 after buying an additional 355 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Buckle by 268.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 825 shares of the company's stock worth $42,000 after buying an additional 601 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new position in shares of Buckle during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 53.93% of the company's stock.

Buckle Trading Up 1.5 %

The firm has a market capitalization of $1.91 billion, a PE ratio of 9.57 and a beta of 1.17. The business has a 50-day moving average of $43.94 and a 200 day moving average of $45.58.

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.