UBS Group Issues Pessimistic Forecast for Buckle (NYSE:BKE) Stock Price

Buckle (NYSE:BKE) had its target price lowered by stock analysts at UBS Group from $43.00 to $41.00 in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 6.75% from the stock’s previous close.

Separately, StockNews.com cut Buckle from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Buckle Stock Performance

BKE opened at $38.41 on Tuesday. Buckle has a twelve month low of $34.67 and a twelve month high of $54.25. The firm’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $45.50. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 9.75 and a beta of 1.17.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, March 14th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.09. The firm had revenue of $379.20 million during the quarter, compared to analysts’ expectations of $378.97 million. Buckle had a net margin of 16.21% and a return on equity of 44.11%. During the same quarter in the previous year, the company posted $1.59 EPS. Buckle’s revenue was down .8% on a year-over-year basis.

Insider Buying and Selling

In other news, CEO Dennis H. Nelson sold 15,340 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $36.32, for a total transaction of $557,148.80. Following the completion of the transaction, the chief executive officer now directly owns 1,647,695 shares of the company’s stock, valued at $59,844,282.40. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 92,269 shares of company stock valued at $3,952,882. Company insiders own 39.80% of the company’s stock.

Institutional Investors Weigh In On Buckle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Buckle in the 4th quarter valued at about $31,000. Caption Management LLC bought a new position in Buckle in the fourth quarter valued at approximately $36,000. Smartleaf Asset Management LLC grew its stake in Buckle by 268.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 825 shares of the company’s stock valued at $42,000 after purchasing an additional 601 shares in the last quarter. Bellwether Advisors LLC acquired a new position in shares of Buckle during the 4th quarter worth approximately $43,000. Finally, Quarry LP raised its stake in shares of Buckle by 60.9% during the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock worth $41,000 after purchasing an additional 355 shares in the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.