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 note issued to investors on Sunday.

A number of other brokerages have also recently commented on BKE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Buckle in a research note on Wednesday, October 8th. UBS Group restated a “neutral” rating on shares of Buckle in a report on Friday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.00.

Buckle Price Performance

BKE opened at $55.55 on Friday. The firm has a 50 day simple moving average of $55.81 and a 200 day simple moving average of $54.75. Buckle has a fifty-two week low of $33.12 and a fifty-two week high of $61.69. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 13.61 and a beta of 1.12.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, November 21st. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $320.84 million for the quarter, compared to analysts’ expectations of $317.97 million. Buckle had a net margin of 16.13% and a return on equity of 44.42%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share.

Hedge Funds Weigh In On Buckle

Several institutional investors have recently modified their holdings of BKE. SG Americas Securities LLC increased its stake in Buckle by 113.7% during the 4th quarter. SG Americas Securities LLC now owns 27,718 shares of the company’s stock worth $1,481,000 after purchasing an additional 14,746 shares in the last quarter. Lincoln Capital LLC acquired a new position in shares of Buckle in the fourth quarter valued at approximately $550,000. JPMorgan Chase & Co. increased its position in shares of Buckle by 376.3% during the third quarter. JPMorgan Chase & Co. now owns 288,920 shares of the company’s stock worth $16,948,000 after acquiring an additional 228,260 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Buckle during the third quarter worth $939,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Buckle during the third quarter worth $243,000. Institutional investors own 53.93% of the company’s stock.

Buckle Company Profile

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.