Buckle (NYSE:BKE) Lowered to “Hold” Rating by StockNews.com

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

Separately, UBS Group upgraded shares of Buckle from a “sell” rating to a “neutral” rating and upped their price target for the company from $31.00 to $46.00 in a report on Tuesday, November 12th.

Buckle Price Performance

BKE traded down $1.18 on Tuesday, hitting $40.21. The company had a trading volume of 387,408 shares, compared to its average volume of 472,164. Buckle has a 1-year low of $34.87 and a 1-year high of $54.25. The company’s fifty day moving average price is $47.64 and its 200 day moving average price is $46.01. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 10.21 and a beta of 1.14.

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

Insider Activity

In other news, Director John P. Peetz sold 2,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $51.70, for a total transaction of $129,250.00. Following the completion of the transaction, the director now owns 22,123 shares of the company’s stock, valued at approximately $1,143,759.10. This represents a 10.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis H. Nelson sold 20,453 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $53.18, for a total transaction of $1,087,690.54. Following the completion of the sale, the chief executive officer now owns 1,781,640 shares of the company’s stock, valued at approximately $94,747,615.20. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,542 shares of company stock valued at $5,267,351. 39.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Buckle

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Buckle by 64.1% during the third quarter. Creative Planning now owns 27,528 shares of the company’s stock valued at $1,210,000 after purchasing an additional 10,751 shares during the period. Blue Trust Inc. boosted its stake in Buckle by 52.0% during the third quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after buying an additional 270 shares in the last quarter. Signaturefd LLC increased its holdings in Buckle by 38.7% in the 3rd quarter. Signaturefd LLC now owns 2,236 shares of the company’s stock valued at $98,000 after buying an additional 624 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Buckle by 13.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,034 shares of the company’s stock valued at $794,000 after buying an additional 2,133 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Buckle by 6.0% during the 3rd quarter. QRG Capital Management Inc. now owns 19,664 shares of the company’s stock worth $865,000 after acquiring an additional 1,106 shares during the period. 53.93% of the stock is currently owned by institutional investors.

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.