Buckle (NYSE:BKE) Given New $41.00 Price Target at UBS Group

Buckle (NYSE:BKE) had its price objective decreased by UBS Group from $43.00 to $41.00 in a research report released on Tuesday, MarketBeat reports. UBS Group currently has a neutral rating on the stock.

Separately, StockNews.com downgraded shares of Buckle from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Buckle Stock Performance

NYSE BKE opened at $37.69 on Tuesday. Buckle has a 52-week low of $34.67 and a 52-week high of $54.25. The company has a 50-day simple moving average of $43.68 and a 200 day simple moving average of $45.55. The company has a market capitalization of $1.91 billion, a PE ratio of 9.57 and a beta of 1.17.

Buckle (NYSE:BKE) last posted its earnings results on Friday, March 14th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.09. The firm had revenue of $379.20 million during the quarter, compared to the consensus estimate of $378.97 million. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share.

Insider Transactions at Buckle

In other news, CEO Dennis H. Nelson sold 20,453 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $51.57, for a total value of $1,054,761.21. Following the completion of the transaction, the chief executive officer now directly owns 1,739,734 shares in the company, valued at approximately $89,718,082.38. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 76,929 shares of company stock worth $3,395,733 over the last quarter. Corporate insiders own 39.80% of the company’s stock.

Hedge Funds Weigh In On Buckle

A number of large investors have recently modified their holdings of BKE. Balyasny Asset Management L.P. boosted its position in shares of Buckle by 515.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 294,953 shares of the company’s stock valued at $14,987,000 after acquiring an additional 247,019 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Buckle by 180.6% in the fourth quarter. Nuveen Asset Management LLC now owns 284,713 shares of the company’s stock valued at $14,466,000 after acquiring an additional 183,257 shares during the period. Teacher Retirement System of Texas lifted its position in Buckle by 442.8% during the fourth quarter. Teacher Retirement System of Texas now owns 190,450 shares of the company’s stock valued at $9,677,000 after purchasing an additional 155,366 shares during the last quarter. First Trust Advisors LP lifted its position in Buckle by 9.0% during the fourth quarter. First Trust Advisors LP now owns 1,663,407 shares of the company’s stock valued at $84,518,000 after purchasing an additional 137,972 shares during the last quarter. Finally, Impala Asset Management LLC lifted its position in Buckle by 43.3% during the third quarter. Impala Asset Management LLC now owns 365,000 shares of the company’s stock valued at $16,049,000 after purchasing an additional 110,273 shares during the last quarter. 53.93% of the stock is currently 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, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.