Wall Street Zen Downgrades Buckle (NYSE:BKE) to Hold

Buckle (NYSE:BKE) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

BKE has been the topic of a number of other reports. UBS Group reaffirmed a “neutral” rating on shares of Buckle in a research note on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Buckle in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.00.

Buckle Stock Down 0.2%

BKE stock opened at $55.49 on Friday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 13.60 and a beta of 1.12. Buckle has a 12-month low of $33.12 and a 12-month high of $61.69. The company’s fifty day simple moving average is $55.80 and its 200 day simple moving average is $54.61.

Buckle (NYSE:BKE) last issued its earnings results on Friday, November 21st. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Buckle had a net margin of 16.13% and a return on equity of 44.42%. The company had revenue of $320.84 million for the quarter, compared to analysts’ expectations of $317.97 million. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year.

Hedge Funds Weigh In On Buckle

A number of institutional investors and hedge funds have recently bought and sold shares of BKE. Two Sigma Investments LP grew its position in Buckle by 3,695.1% in the 3rd quarter. Two Sigma Investments LP now owns 242,510 shares of the company’s stock worth $14,226,000 after purchasing an additional 236,120 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Buckle by 376.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,920 shares of the company’s stock valued at $16,948,000 after acquiring an additional 228,260 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Buckle in the 3rd quarter worth approximately $10,393,000. Squarepoint Ops LLC lifted its position in shares of Buckle by 322.4% in the 2nd quarter. Squarepoint Ops LLC now owns 166,626 shares of the company’s stock worth $7,556,000 after acquiring an additional 127,177 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Buckle by 119.3% during the 2nd quarter. AQR Capital Management LLC now owns 207,057 shares of the company’s stock worth $9,390,000 after purchasing an additional 112,649 shares in the last quarter. Institutional investors own 53.93% of the company’s stock.

Buckle Company Profile

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.