Buckle (NYSE:BKE) Downgraded by StockNews.com to Hold

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

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

Buckle Stock Up 1.4 %

Shares of NYSE:BKE traded up $0.71 during midday trading on Friday, hitting $52.17. 244,183 shares of the stock traded hands, compared to its average volume of 404,585. The business’s 50 day moving average is $46.89 and its two-hundred day moving average is $42.39. The stock has a market capitalization of $2.65 billion, a PE ratio of 13.24 and a beta of 1.14. Buckle has a one year low of $34.87 and a one year high of $54.25.

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 business had revenue of $293.60 million for the quarter, compared to the consensus estimate of $293.60 million. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS.

Insiders Place Their Bets

In other news, EVP Kari G. Smith sold 20,000 shares of Buckle stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $52.29, for a total transaction of $1,045,800.00. Following the completion of the transaction, the executive vice president now directly owns 150,554 shares in the company, valued at approximately $7,872,468.66. This trade represents a 11.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $1,087,690.54. Following the completion of the sale, the chief executive officer now directly owns 1,781,640 shares in the company, valued at approximately $94,747,615.20. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,265 shares of company stock worth $6,270,732. Company insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BKE. Blue Trust Inc. increased its holdings in shares of Buckle by 52.0% during the third quarter. Blue Trust Inc. now owns 789 shares of the company’s stock valued at $35,000 after acquiring an additional 270 shares in the last quarter. Quarry LP grew its holdings in shares of Buckle by 60.9% during the third quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after buying an additional 355 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Buckle during the third quarter valued at approximately $86,000. CWM LLC raised its holdings in Buckle by 119.9% in the 2nd quarter. CWM LLC now owns 2,010 shares of the company’s stock worth $74,000 after acquiring an additional 1,096 shares during the last quarter. Finally, Signaturefd LLC lifted its position 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 acquiring an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 53.93% of the company’s stock.

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.