UBS Group Increases Buckle (NYSE:BKE) Price Target to $54.00

Key Points

• UBS Group raised Buckle's price target from $51.00 to $54.00, maintaining a "neutral" rating, indicating a potential 5.00% downside from the current stock price.
• In a recent report, Wall Street Zen upgraded Buckle from a "hold" to a "buy" rating, contributing to an average consensus price target of $54.00 among analysts.
• Buckle's latest earnings report showed a 12% increase in revenue year-over-year, with a EPS of $0.89, surpassing the expected $0.83.

Buckle (NYSE:BKE - Get Free Report) had its price target boosted by UBS Group from $51.00 to $54.00 in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential downside of 4.59% from the stock's previous close.

Separately, Wall Street Zen raised shares of Buckle from a "hold" rating to a "buy" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $54.00.

Buckle Price Performance

Buckle stock traded down $0.90 during midday trading on Monday, hitting $56.60. 516,816 shares of the company were exchanged, compared to its average volume of 574,803. Buckle has a fifty-two week low of $33.12 and a fifty-two week high of $57.83. The company's fifty day moving average price is $50.50 and its 200-day moving average price is $43.02. The company has a market cap of $2.90 billion, a PE ratio of 14.15 and a beta of 1.05.

Buckle (NYSE:BKE - Get Free Report) last posted its earnings results on Friday, August 22nd. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.06. Buckle had a net margin of 16.12% and a return on equity of 43.97%. The business had revenue of $305.74 million for the quarter, compared to analysts' expectations of $292.61 million. During the same period in the previous year, the company posted $0.78 earnings per share. The business's revenue for the quarter was up 8.3% compared to the same quarter last year.

Insider Activity

In other news, Director John P. Peetz sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $55.74, for a total transaction of $83,610.00. Following the sale, the director directly owned 23,623 shares in the company, valued at approximately $1,316,746.02. This represents a 5.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dennis H. Nelson sold 20,453 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $43.52, for a total value of $890,114.56. Following the transaction, the chief executive officer owned 1,655,204 shares of the company's stock, valued at $72,034,478.08. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,953 shares of company stock valued at $1,472,125. 39.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Buckle

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of Buckle by 1,928.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock worth $25,000 after buying an additional 617 shares in the last quarter. Allworth Financial LP grew its holdings in Buckle by 1,652.3% during the second quarter. Allworth Financial LP now owns 771 shares of the company's stock worth $35,000 after acquiring an additional 727 shares during the period. Caption Management LLC acquired a new position in Buckle during the fourth quarter worth about $36,000. Bellwether Advisors LLC bought a new stake in Buckle in the fourth quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Buckle by 162.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company's stock valued at $43,000 after acquiring an additional 592 shares during the last quarter. 53.93% of the stock is 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.