Buckle (BKE) Stock Rating Upgraded by Deutsche Bank

Buckle (NYSE:BKE) was upgraded by research analysts at Deutsche Bank from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $19.00 price objective on the stock. Deutsche Bank’s price target indicates a potential downside of 11.26% from the stock’s current price.

BKE has been the topic of a number of other reports. Zacks Investment Research cut Buckle from a “hold” rating to a “sell” rating in a report on Monday, October 29th. ValuEngine cut Buckle from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.

Shares of NYSE BKE traded up $0.74 during trading hours on Friday, reaching $21.41. 528,354 shares of the stock traded hands, compared to its average volume of 730,600. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 10.81 and a beta of 0.79. Buckle has a 52-week low of $17.45 and a 52-week high of $29.65.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, August 24th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $201.82 million. Buckle had a return on equity of 23.39% and a net margin of 10.53%. Buckle’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. As a group, sell-side analysts anticipate that Buckle will post 1.89 earnings per share for the current fiscal year.

In related news, Director Michael E. Huss sold 1,688 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $22.63, for a total transaction of $38,199.44. Following the transaction, the director now directly owns 17,062 shares in the company, valued at approximately $386,113.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Diane L. Applegate sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the vice president now owns 27,500 shares in the company, valued at $618,750. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,308 shares of company stock worth $141,102. 41.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BKE. Millennium Management LLC bought a new position in Buckle during the 1st quarter worth approximately $5,253,000. BlackRock Inc. grew its position in Buckle by 6.3% during the 2nd quarter. BlackRock Inc. now owns 3,867,943 shares of the company’s stock worth $104,048,000 after acquiring an additional 227,906 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Buckle by 29.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 957,540 shares of the company’s stock worth $25,758,000 after acquiring an additional 216,138 shares during the last quarter. Cortina Asset Management LLC bought a new position in Buckle during the 2nd quarter worth approximately $4,555,000. Finally, TD Asset Management Inc. bought a new position in Buckle during the 2nd quarter worth approximately $4,487,000. Institutional investors and hedge funds own 70.17% of the company’s stock.

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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, Outpost Makers, Departwest, and Veece.

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