Janney Montgomery Scott Upgrades Buckle, Inc. (BKE) to Neutral; Another Upside Comp

December 2, 2010 10:50 AM EST Send to a Friend
Get Alerts BKE Hot Sheet
Price: $51.24 -1.9%

Rating Summary:
    2 Buy, 8 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
Trade BKE Now!
Join SI Premium – FREE
Janney Montgomery Scott upgraded Buckle, Inc. (NYSE: BKE) from Sell to Neutral.

JMS analyst says, "We have been wrong on this call and have been overly negative, believing that comps might turn sustainably negative and therefore result in margin contraction and earnings misses. Clearly, management has done a stellar job of transitioning its business into new, fresh brands and the unit growth story remains intact. We no longer see imminent risk of negative comps and believe current EPS estimates are likely to be higher, rather than lower in the near-term. Trading inexpensively at approximately 12.9x FY11 EPS, we are upgrading to NEUTRAL. Although we continue to have longer term concerns about the sustainability of operating margins over 20%, there is no denying the company's successful execution against difficult compares."

For more ratings news on Buckle, Inc. click here and for the rating history of Buckle, Inc. click here.

Shares of Buckle, Inc. closed at $36.13 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Upgrades

Related Entities

Janney Montgomery Scott, Earnings

Add Your Comment