Buckle (NYSE:BKE) Rating Lowered to “Hold” at Wall Street Zen

Buckle (NYSE:BKE) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also commented on BKE. Weiss Ratings upgraded shares of Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. UBS Group lowered their price objective on Buckle from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Buckle Stock Up 0.1%

Shares of BKE opened at $50.17 on Friday. Buckle has a twelve month low of $33.12 and a twelve month high of $61.69. The stock has a market cap of $2.58 billion, a PE ratio of 12.12 and a beta of 1.18. The business’s 50-day moving average price is $51.03 and its 200-day moving average price is $54.23.

Buckle (NYSE:BKE) last issued its quarterly earnings data on Friday, March 13th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.51 by $0.08. The company had revenue of $399.14 million during the quarter, compared to analysts’ expectations of $396.45 million. Buckle had a net margin of 16.16% and a return on equity of 45.18%. Buckle’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share.

Insider Activity

In related news, SVP Michelle Hoffman sold 29,281 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $49.12, for a total transaction of $1,438,282.72. Following the transaction, the senior vice president directly owned 45,882 shares of the company’s stock, valued at approximately $2,253,723.84. This trade represents a 38.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kari G. Smith sold 48,860 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $50.39, for a total value of $2,462,055.40. Following the completion of the sale, the executive vice president owned 76,754 shares of the company’s stock, valued at $3,867,634.06. The trade was a 38.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 80,000 shares of company stock valued at $3,993,072. Corporate insiders own 39.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Amundi lifted its holdings in shares of Buckle by 676.9% in the 4th quarter. Amundi now owns 421,200 shares of the company’s stock worth $22,501,000 after acquiring an additional 366,986 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Buckle by 44.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company’s stock worth $55,746,000 after purchasing an additional 323,361 shares during the period. Morgan Stanley raised its position in Buckle by 26.8% in the 4th quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock worth $66,475,000 after purchasing an additional 263,338 shares during the period. Two Sigma Investments LP lifted its stake in Buckle by 3,695.1% in the third 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. Finally, JPMorgan Chase & Co. lifted its stake in Buckle by 376.3% in the third quarter. JPMorgan Chase & Co. now owns 288,920 shares of the company’s stock worth $16,948,000 after purchasing an additional 228,260 shares during the last quarter. 53.93% of the stock is owned by hedge funds and other institutional investors.

About Buckle

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.