Buckle (NYSE:BKE) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Buckle (NYSE:BKE - Free Report) from a buy rating to a hold rating in a research note released on Thursday morning.

Separately, UBS Group raised shares of Buckle from a "sell" rating to a "neutral" rating and increased their target price for the stock from $31.00 to $46.00 in a report on Tuesday, November 12th.

Buckle Stock Up 0.9 %

Shares of Buckle stock traded up $0.47 during trading on Thursday, reaching $51.73. The company's stock had a trading volume of 382,931 shares, compared to its average volume of 410,894. Buckle has a 52 week low of $34.87 and a 52 week high of $54.25. The firm has a market cap of $2.63 billion, a PE ratio of 13.13 and a beta of 1.14. The business's 50-day moving average price is $48.41 and its 200-day moving average price is $43.25.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings results on Friday, November 22nd. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $293.60 million for the quarter, compared to analyst estimates of $293.60 million. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The business's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 EPS.

Buckle Cuts Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be given a $2.50 dividend. The ex-dividend date is Wednesday, January 15th. This represents a yield of 2.6%. Buckle's dividend payout ratio is presently 35.53%.

Insider Transactions at Buckle

In other news, Director John P. Peetz sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $51.70, for a total value of $129,250.00. Following the transaction, the director now owns 22,123 shares in the company, valued at approximately $1,143,759.10. The trade was a 10.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kari G. Smith sold 20,000 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $52.29, for a total transaction of $1,045,800.00. Following the sale, the executive vice president now directly owns 150,554 shares in the company, valued at $7,872,468.66. This trade represents a 11.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,265 shares of company stock worth $6,414,313. Insiders own 39.80% of the company's stock.

Institutional Trading of Buckle

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Buckle by 52.0% in the third quarter. Blue Trust Inc. now owns 789 shares of the company's stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. Unison Advisors LLC raised its stake in Buckle by 0.9% during the 3rd quarter. Unison Advisors LLC now owns 37,859 shares of the company's stock worth $1,665,000 after buying an additional 334 shares during the period. Quarry LP boosted its holdings in Buckle by 60.9% in the third quarter. Quarry LP now owns 938 shares of the company's stock worth $41,000 after acquiring an additional 355 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Buckle by 0.7% in the third quarter. Exchange Traded Concepts LLC now owns 59,961 shares of the company's stock valued at $2,636,000 after acquiring an additional 396 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Buckle by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the company's stock valued at $550,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 53.93% of the company's stock.

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, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.