Buckle (NYSE:BKE) Downgraded by StockNews.com

Buckle (NYSE:BKEGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

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

View Our Latest Stock Analysis on BKE

Buckle Stock Performance

Shares of Buckle stock traded up $1.06 during midday trading on Wednesday, reaching $38.52. 330,956 shares of the company’s stock traded hands, compared to its average volume of 516,185. The stock has a 50 day moving average of $38.57 and a 200-day moving average of $37.98. Buckle has a 12 month low of $30.18 and a 12 month high of $48.15. The company has a market cap of $1.94 billion, a PE ratio of 8.73 and a beta of 1.23.

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

Hedge Funds Weigh In On Buckle

A number of institutional investors have recently added to or reduced their stakes in BKE. Brandywine Global Investment Management LLC boosted its holdings in shares of Buckle by 11.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 150,402 shares of the company’s stock valued at $5,022,000 after buying an additional 16,016 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in Buckle during the 3rd quarter valued at about $597,000. GSA Capital Partners LLP bought a new stake in Buckle during the third quarter worth about $963,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Buckle by 16.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 118,200 shares of the company’s stock worth $3,947,000 after purchasing an additional 17,100 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in Buckle by 408.4% in the third quarter. Panagora Asset Management Inc. now owns 33,784 shares of the company’s stock worth $1,128,000 after purchasing an additional 27,139 shares during the period. Institutional investors own 53.93% of the company’s stock.

Buckle Company Profile

(Get Free Report)

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.

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