Buckle (NYSE:BKE) Price Target Cut to $46.00 by Analysts at UBS Group

Key Points

• UBS Group cut Buckle’s price target from $47 to $46 while maintaining a “neutral” rating, implying only 0.13% upside from the prior close. Analysts overall rate the stock “Hold,” with an average target of $46.
• Buckle shares fell 1.5% to $45.94. The retailer recently exceeded quarterly expectations, reporting $0.92 in EPS versus a $0.74 consensus estimate and 6.1% year-over-year revenue growth.
• Institutional ownership stands at 53.93%, with BlackRock and several other investors building new positions. Separately, director Bill L. Fairfield sold 2,500 shares for about $111,100.

Buckle (NYSE:BKE - Get Free Report) had its price objective reduced by equities researchers at UBS Group from $47.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 0.13% from the company's previous close.

Separately, Weiss Ratings raised Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $46.00.

Buckle Stock Down 1.5%

Shares of BKE traded down $0.71 during trading hours on Tuesday, reaching $45.94. The stock had a trading volume of 365,533 shares, compared to its average volume of 481,361. The company has a market cap of $2.37 billion, a P/E ratio of 10.54 and a beta of 1.10. Buckle has a 52 week low of $40.73 and a 52 week high of $61.69. The firm has a 50-day moving average of $43.69 and a 200 day moving average of $48.75.

Buckle (NYSE:BKE - Get Free Report) last announced its earnings results on Friday, May 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.74 by $0.18. Buckle had a net margin of 16.85% and a return on equity of 47.35%. The firm had revenue of $288.74 million for the quarter, compared to the consensus estimate of $287.68 million. During the same period last year, the company posted $0.70 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis.

Insider Activity

In other news, Director Bill L. Fairfield sold 2,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $44.44, for a total value of $111,100.00. Following the completion of the sale, the director owned 52,908 shares of the company's stock, valued at approximately $2,351,231.52. This represents a 4.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 38.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BKE. Denali Advisors LLC acquired a new stake in shares of Buckle during the 2nd quarter worth about $4,748,000. Stevens Capital Partners acquired a new position in Buckle in the 2nd quarter valued at $2,593,000. BlackRock Inc. acquired a new stake in shares of Buckle during the second quarter worth $208,888,000. Deutsche Bank AG bought a new position in Buckle during the second quarter worth about $1,607,000. Finally, Chase Investment Counsel Corp acquired a new position in shares of Buckle during the 2nd quarter worth approximately $1,519,000. 53.93% of the stock is currently owned by institutional investors.

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.

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