Buckle (NYSE:BKE) Stock Price Target Lowered at UBS Group

Key Points

• UBS lowered its price target for Buckle to $45 from $46 and maintained a neutral rating; the new target implies about 4.9% upside from the prior close. Analysts’ consensus rating is Hold, with a $45 target.
• Buckle shares fell 2.7% to $42.89 on Thursday. In its latest reported quarter, the retailer beat EPS estimates ($0.87 vs. $0.81) and reported revenue of $319.82 million, up 4.6% year over year.
• Two Buckle insiders reported stock sales in October: Director Bill Fairfield sold 8,500 shares, and SVP Scott Werth sold 2,500 shares.

Buckle (NYSE:BKE - Get Free Report) had its price target decreased by stock analysts at UBS Group from $46.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 4.92% from the stock's previous close.

Separately, Weiss Ratings raised Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.00.

Buckle Stock Down 2.7%

NYSE:BKE traded down $1.19 on Thursday, hitting $42.89. The stock had a trading volume of 37,140 shares, compared to its average volume of 470,804. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.85 and a beta of 1.14. The company has a fifty day moving average price of $43.74 and a two-hundred day moving average price of $47.05. Buckle has a 1-year low of $39.44 and a 1-year high of $58.52.

Buckle (NYSE:BKE - Get Free Report) last announced its quarterly earnings results on Friday, August 21st. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The business had revenue of $319.82 million during the quarter, compared to the consensus estimate of $319.80 million. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 EPS.

Insider Transactions at Buckle

In other news, Director Bill L. Fairfield sold 8,500 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $46.38, for a total value of $394,230.00. Following the transaction, the director directly owned 44,408 shares in the company, valued at approximately $2,059,643.04. This represents a 16.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott A. Werth sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $46.75, for a total transaction of $116,875.00. Following the completion of the transaction, the senior vice president owned 46,960 shares in the company, valued at approximately $2,195,380. This represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 38.40% of the stock is owned by company insiders.

Institutional Trading of Buckle

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Buckle during the second quarter worth $208,888,000. Bank of New York Mellon Corp purchased a new position in shares of Buckle during the second quarter worth $27,466,000. Impala Asset Management LLC acquired a new stake in shares of Buckle in the second quarter valued at $17,386,000. Advisors Asset Management Inc. acquired a new stake in shares of Buckle in the third quarter valued at $17,479,000. Finally, Lazard Asset Management LLC grew its stake in shares of Buckle by 1,066.8% in the first quarter. Lazard Asset Management LLC now owns 297,594 shares of the company's stock valued at $14,987,000 after buying an additional 272,088 shares in the last quarter. Institutional investors and hedge funds own 53.93% of the company's stock.

Buckle Company Profile

The Buckle, Inc. is a specialty retailer of casual apparel, footwear and accessories. Its stores offer clothing for men and women, with a particular focus on denim, alongside tops, outerwear, shoes and fashion accessories. The company sells merchandise from national brands as well as private-label lines, and combines its in-store business with online sales. Its retail locations serve customers across the United States. Founded in Nebraska in 1948 as Mills Clothing, the company later adopted The Buckle name.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.