Wall Street Zen Downgrades Buckle (NYSE:BKE) to Buy

Buckle (NYSE:BKE) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Buckle in a report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating on shares of Buckle in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Buckle currently has an average rating of “Hold” and a consensus price target of $55.00.

Buckle Stock Performance

Shares of NYSE BKE opened at $55.80 on Friday. Buckle has a 52-week low of $33.12 and a 52-week high of $61.69. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 13.68 and a beta of 1.14. The stock has a 50 day moving average price of $55.90 and a 200 day moving average price of $52.56.

Buckle (NYSE:BKE) last issued its earnings results on Friday, November 21st. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Buckle had a return on equity of 44.42% and a net margin of 16.13%.The business had revenue of $320.84 million during the quarter, compared to analyst estimates of $317.97 million. During the same period in the previous year, the company posted $0.88 EPS. Buckle’s revenue was up 9.3% on a year-over-year basis.

Hedge Funds Weigh In On Buckle

A number of large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its position in shares of Buckle by 1.1% during the second quarter. Ameritas Investment Partners Inc. now owns 18,204 shares of the company’s stock valued at $826,000 after buying an additional 190 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Buckle by 81.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 463 shares of the company’s stock worth $27,000 after acquiring an additional 208 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Buckle by 2.0% during the third quarter. Belpointe Asset Management LLC now owns 11,215 shares of the company’s stock valued at $658,000 after acquiring an additional 218 shares during the last quarter. Franklin Resources Inc. lifted its position in Buckle by 0.9% during the second quarter. Franklin Resources Inc. now owns 26,453 shares of the company’s stock valued at $1,200,000 after acquiring an additional 230 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Buckle by 7.6% in the third quarter. GAMMA Investing LLC now owns 3,371 shares of the company’s stock valued at $198,000 after acquiring an additional 237 shares in the last quarter. 53.93% of the stock is currently owned by institutional investors.

Buckle Company Profile

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.