StockNews.com Downgrades Buckle (NYSE:BKE) to Hold

Buckle (NYSE:BKE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Separately, UBS Group lowered Buckle from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $37.00 to $34.00 in a research report on Friday, January 5th.

Buckle Stock Performance

BKE traded up $1.06 during mid-day trading on Wednesday, reaching $38.52. The stock had a trading volume of 330,956 shares, compared to its average volume of 516,185. The stock has a market capitalization of $1.94 billion, a P/E ratio of 8.73 and a beta of 1.23. Buckle has a 52 week low of $30.18 and a 52 week high of $48.15. The firm’s fifty day simple moving average is $38.57 and its two-hundred day simple moving average is $37.98.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, March 15th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.15. The firm had revenue of $382.40 million during the quarter, compared to analyst estimates of $383.63 million. Buckle had a return on equity of 50.88% and a net margin of 17.44%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share.

Hedge Funds Weigh In On Buckle

A number of hedge funds and other institutional investors have recently made changes to their positions in BKE. Brandywine Global Investment Management LLC lifted its position in Buckle by 11.9% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 150,402 shares of the company’s stock valued at $5,022,000 after acquiring an additional 16,016 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Buckle during the third quarter worth about $597,000. GSA Capital Partners LLP acquired a new position in shares of Buckle during the third quarter worth about $963,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Buckle by 16.9% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 118,200 shares of the company’s stock worth $3,947,000 after buying an additional 17,100 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in Buckle by 408.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 33,784 shares of the company’s stock valued at $1,128,000 after buying an additional 27,139 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, Reclaim, BKE Vintage, Nova Industries, J.B.