Buckle (NYSE:BKE) Rating Lowered to Hold at StockNews.com

Buckle (NYSE:BKE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Separately, UBS Group raised Buckle from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $31.00 to $46.00 in a report on Tuesday, November 12th.

Buckle Stock Performance

Shares of NYSE:BKE traded down $1.18 on Tuesday, hitting $40.21. The stock had a trading volume of 387,408 shares, compared to its average volume of 472,164. The firm’s 50 day moving average price is $47.64 and its 200-day moving average price is $46.01. Buckle has a twelve month low of $34.87 and a twelve month high of $54.25. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 10.21 and a beta of 1.14.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, November 22nd. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The firm had revenue of $293.60 million during the quarter, compared to analyst estimates of $293.60 million. Buckle had a net margin of 16.21% and a return on equity of 44.11%. Buckle’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share.

Insider Buying and Selling

In related news, EVP Kari G. Smith sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $52.29, for a total value of $1,045,800.00. Following the completion of the sale, the executive vice president now owns 150,554 shares of the company’s stock, valued at $7,872,468.66. This trade represents a 11.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dennis H. Nelson sold 20,453 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $53.18, for a total transaction of $1,087,690.54. Following the completion of the transaction, the chief executive officer now owns 1,781,640 shares of the company’s stock, valued at $94,747,615.20. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,542 shares of company stock worth $5,267,351 in the last 90 days. Corporate insiders own 39.80% of the company’s stock.

Institutional Investors Weigh In On Buckle

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Buckle by 15.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,756 shares of the company’s stock valued at $89,000 after acquiring an additional 240 shares during the period. Blue Trust Inc. raised its holdings in Buckle by 52.0% during the 3rd quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Unison Advisors LLC lifted its position in Buckle by 0.8% during the 4th quarter. Unison Advisors LLC now owns 38,166 shares of the company’s stock valued at $1,939,000 after purchasing an additional 307 shares during the period. Quarry LP boosted its stake in shares of Buckle by 60.9% in the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after purchasing an additional 355 shares during the last quarter. Finally, DGS Capital Management LLC grew its position in shares of Buckle by 6.8% during the 3rd quarter. DGS Capital Management LLC now owns 7,131 shares of the company’s stock worth $314,000 after buying an additional 451 shares during the period. 53.93% of the stock is owned by institutional investors and hedge funds.

About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.