Buckle (NYSE:BKE) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Buckle (BKE) from a "buy" to a "hold," while the consensus rating remains a "Moderate Buy" with an average price target of $53 and UBS cutting its target to $53.
• Buckle beat expectations for the quarter with $1.59 EPS vs. $1.51 expected and $399.1M revenue (+5.2% YoY), showing a 16.16% net margin and a 45.18% return on equity.
• Insiders have sold about 80,000 shares (~$4.0M) in the last 90 days despite insiders still owning 39% of the company, while large institutions (e.g., Goldman, Morgan Stanley, Amundi, Two Sigma, JPMorgan) materially increased their stakes and institutions/hedge funds own ~54% of the stock.

Buckle (NYSE:BKE - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other research firms have also commented on BKE. Weiss Ratings upgraded shares of Buckle from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 20th. UBS Group lowered their price objective on Buckle from $55.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, March 16th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Buckle Stock Up 0.1%

Shares of BKE opened at $50.17 on Friday. Buckle has a twelve month low of $33.12 and a twelve month high of $61.69. The stock has a market cap of $2.58 billion, a PE ratio of 12.12 and a beta of 1.18. The business's 50-day moving average price is $51.03 and its 200-day moving average price is $54.23.

Buckle (NYSE:BKE - Get Free Report) last issued its quarterly earnings data on Friday, March 13th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.51 by $0.08. The company had revenue of $399.14 million during the quarter, compared to analysts' expectations of $396.45 million. Buckle had a net margin of 16.16% and a return on equity of 45.18%. Buckle's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share.

Insider Activity

In related news, SVP Michelle Hoffman sold 29,281 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $49.12, for a total transaction of $1,438,282.72. Following the transaction, the senior vice president directly owned 45,882 shares of the company's stock, valued at approximately $2,253,723.84. This trade represents a 38.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kari G. Smith sold 48,860 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $50.39, for a total value of $2,462,055.40. Following the completion of the sale, the executive vice president owned 76,754 shares of the company's stock, valued at $3,867,634.06. The trade was a 38.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 80,000 shares of company stock valued at $3,993,072. Corporate insiders own 39.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Amundi lifted its holdings in shares of Buckle by 676.9% in the 4th quarter. Amundi now owns 421,200 shares of the company's stock worth $22,501,000 after acquiring an additional 366,986 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Buckle by 44.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company's stock worth $55,746,000 after purchasing an additional 323,361 shares during the period. Morgan Stanley raised its position in Buckle by 26.8% in the 4th quarter. Morgan Stanley now owns 1,244,389 shares of the company's stock worth $66,475,000 after purchasing an additional 263,338 shares during the period. Two Sigma Investments LP lifted its stake in Buckle by 3,695.1% in the third quarter. Two Sigma Investments LP now owns 242,510 shares of the company's stock worth $14,226,000 after purchasing an additional 236,120 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Buckle by 376.3% in the third quarter. JPMorgan Chase & Co. now owns 288,920 shares of the company's stock worth $16,948,000 after purchasing an additional 228,260 shares during the last quarter. 53.93% of the stock is owned by hedge funds and other institutional investors.

About Buckle

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.

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.