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

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

BKE has been the topic of a number of other reports. Weiss Ratings raised Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. UBS Group lowered their price target on shares of Buckle from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, March 16th. One investment 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, Buckle currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Buckle Stock Up 0.1%

NYSE BKE opened at $50.17 on Friday. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 12.12 and a beta of 1.18. Buckle has a twelve month low of $33.12 and a twelve month high of $61.69. The stock has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $54.14.

Buckle (NYSE:BKE) last announced its earnings results on Friday, March 13th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Buckle had a return on equity of 45.18% and a net margin of 16.16%.The firm had revenue of $399.14 million for the quarter, compared to the consensus estimate of $396.45 million. During the same period in the previous year, the business earned $1.53 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year.

Insider Transactions at Buckle

In related news, EVP Kari G. Smith sold 48,860 shares of the company’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 transaction of $2,462,055.40. Following the transaction, the executive vice president directly owned 76,754 shares of the company’s stock, valued at approximately $3,867,634.06. This represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michelle Hoffman sold 29,281 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $49.12, for a total value of $1,438,282.72. Following the completion of the sale, the senior vice president directly owned 45,882 shares of the company’s stock, valued at $2,253,723.84. This trade represents a 38.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,000 shares of company stock worth $3,993,072 in the last three months. Insiders own 39.00% of the company’s stock.

Hedge Funds Weigh In On Buckle

A number of large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in Buckle during the 4th quarter valued at $88,000. DGS Capital Management LLC lifted its stake in shares of Buckle by 30.1% in the fourth quarter. DGS Capital Management LLC now owns 7,810 shares of the company’s stock valued at $417,000 after buying an additional 1,805 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Buckle by 2.5% during the fourth quarter. Invesco Ltd. now owns 340,416 shares of the company’s stock valued at $18,185,000 after buying an additional 8,249 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Buckle by 3.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,519 shares of the company’s stock valued at $1,096,000 after buying an additional 635 shares during the last quarter. Finally, Summit Global Investments increased its position in shares of Buckle by 36.1% during the fourth quarter. Summit Global Investments now owns 23,874 shares of the company’s stock worth $1,275,000 after acquiring an additional 6,335 shares in the last quarter. 53.93% of the stock is currently owned by 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.