Buckle (BKE) Cut to “Sell” at Zacks Investment Research

Buckle (NYSE:BKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

According to Zacks, “The Buckle, Inc. is a leading retailer of medium to better-priced casual apparel, footwear, and accessories for fashion-conscious young men and women. Buckle markets a wide selection of brand names and private label casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company emphasizes personalized attention to its guests (customers) and provides individual customer services such as free alterations, layaways, and a frequent shopper program. “

Separately, ValuEngine cut shares of Buckle from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd.

Shares of Buckle stock opened at $21.90 on Monday. The firm has a market cap of $995.07 million, a price-to-earnings ratio of 11.84 and a beta of 0.64. Buckle has a 52 week low of $16.15 and a 52 week high of $29.65.

Buckle (NYSE:BKE) last issued its earnings results on Friday, August 24th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $201.82 million. Buckle had a net margin of 10.53% and a return on equity of 23.39%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, equities research analysts forecast that Buckle will post 1.89 earnings per share for the current fiscal year.

In other Buckle news, Director Michael E. Huss sold 1,688 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $22.63, for a total transaction of $38,199.44. Following the completion of the sale, the director now owns 17,062 shares in the company, valued at approximately $386,113.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Diane L. Applegate sold 4,000 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the transaction, the vice president now directly owns 27,500 shares of the company’s stock, valued at approximately $618,750. The disclosure for this sale can be found here. Insiders have sold a total of 6,308 shares of company stock valued at $141,102 in the last quarter. Corporate insiders own 41.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of Buckle by 124.9% in the 2nd quarter. American Century Companies Inc. now owns 260,033 shares of the company’s stock valued at $6,995,000 after buying an additional 144,399 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Buckle in the 2nd quarter valued at $312,000. BlackRock Inc. grew its holdings in shares of Buckle by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,640,037 shares of the company’s stock valued at $80,628,000 after buying an additional 36,599 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Buckle by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 218,338 shares of the company’s stock valued at $4,836,000 after buying an additional 6,324 shares during the period. Finally, TD Asset Management Inc. acquired a new position in shares of Buckle in the 2nd quarter valued at $4,487,000. 70.17% 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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, Outpost Makers, Departwest, and Veece.

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