Janney Montgomery Scott Upgrades Buckle, Inc. (BKE) to Neutral; Another Upside Comp
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Price: $57.14 --0%
Rating Summary:
2 Buy, 5 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
Rating Summary:
2 Buy, 5 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 10
Trade BKE Now!
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, with a 52 week range of $23.00-$40.35.
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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, with a 52 week range of $23.00-$40.35.
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