UBS Group Has Lowered Expectations for Buckle (NYSE:BKE) Stock Price

Buckle (NYSE:BKE) had its target price reduced by investment analysts at UBS Group from $46.00 to $45.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s price objective suggests a potential upside of 4.92% from the company’s current price.

Separately, Weiss Ratings upgraded shares of Buckle from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, Buckle has an average rating of “Hold” and an average price target of $45.00.

Buckle Stock Performance

Shares of BKE traded down $1.19 during mid-day trading on Thursday, hitting $42.89. 37,140 shares of the company’s stock were exchanged, compared to its average volume of 470,804. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 9.85 and a beta of 1.14. Buckle has a fifty-two week low of $39.44 and a fifty-two week high of $58.52. The stock’s 50-day moving average is $43.74 and its 200-day moving average is $47.05.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, August 21st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $319.82 million during the quarter, compared to analyst estimates of $319.80 million. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share.

Insider Transactions at Buckle

In other news, Director Bill Fairfield sold 8,500 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $46.38, for a total transaction of $394,230.00. Following the completion of the transaction, the director directly owned 44,408 shares of the company’s stock, valued at approximately $2,059,643.04. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Scott A. Werth sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $46.75, for a total transaction of $116,875.00. Following the sale, the senior vice president owned 46,960 shares in the company, valued at $2,195,380. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 38.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Buckle by 261.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $26,000 after acquiring an additional 432 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Buckle during the 2nd quarter worth $36,000. Integrated Wealth Concepts LLC acquired a new position in shares of Buckle during the second quarter worth $37,000. Sterling Capital Management LLC grew its stake in shares of Buckle by 850.0% during the third quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock worth $47,000 after purchasing an additional 969 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in Buckle in the second quarter valued at $48,000. Hedge funds and other institutional investors own 53.93% of the company’s stock.

About Buckle

The Buckle, Inc. is a specialty retailer of casual apparel, footwear and accessories. Its stores offer clothing for men and women, with a particular focus on denim, alongside tops, outerwear, shoes and fashion accessories. The company sells merchandise from national brands as well as private-label lines, and combines its in-store business with online sales. Its retail locations serve customers across the United States. Founded in Nebraska in 1948 as Mills Clothing, the company later adopted The Buckle name.