Buckle (NYSE:BKE) Price Target Raised 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 target price raised by research analysts at UBS Group from $51.00 to $54.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential downside of 5.00% from the stock's previous close.

Separately, Wall Street Zen upgraded 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, Based on data from MarketBeat, Buckle has an average rating of "Hold" and a consensus price target of $54.00.

Buckle Stock Performance

Shares of BKE traded up $0.66 during trading hours on Monday, hitting $56.84. 20,777 shares of the stock were exchanged, compared to its average volume of 534,471. Buckle has a 12-month low of $33.12 and a 12-month high of $57.53. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 14.22 and a beta of 1.05. The stock's 50-day moving average price is $49.34 and its two-hundred day moving average price is $42.57.

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

Insider Activity

In related news, CEO Dennis H. Nelson sold 20,453 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.52, for a total transaction of $890,114.56. Following the transaction, the chief executive officer owned 1,655,204 shares of the company's stock, valued at approximately $72,034,478.08. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Shada sold 10,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $49.84, for a total value of $498,400.00. Following the transaction, the director directly owned 85,352 shares in the company, valued at approximately $4,253,943.68. The trade was a 10.49% decrease in their position. The disclosure for this sale can be found here. 39.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Buckle

Hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its position in Buckle by 1,928.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock valued at $25,000 after purchasing an additional 617 shares in the last quarter. Allworth Financial LP raised its position in Buckle by 1,652.3% in the 2nd quarter. Allworth Financial LP now owns 771 shares of the company's stock valued at $35,000 after purchasing an additional 727 shares in the last quarter. Caption Management LLC acquired a new stake in Buckle in the 4th quarter valued at about $36,000. Bellwether Advisors LLC acquired a new stake in Buckle in the 4th quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 592 shares in the last quarter. Institutional investors and hedge funds 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.

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