Buckle (NYSE:BKE) Downgraded by Zacks Investment Research to Hold

Posted by on Jun 7th, 2022

Buckle (NYSE:BKE – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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, StockNews.com upgraded Buckle from a “hold” rating to a “buy” rating in a research report on Saturday, May 28th.

BKE stock traded up $0.01 during trading on Tuesday, hitting $32.49. The company had a trading volume of 488,656 shares, compared to its average volume of 729,467. The firm has a market cap of $1.63 billion, a PE ratio of 6.36 and a beta of 1.02. Buckle has a 1-year low of $26.56 and a 1-year high of $57.10. The firm has a 50-day moving average price of $32.11 and a 200-day moving average price of $37.27.

Buckle (NYSE:BKE – Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.22. Buckle had a return on equity of 60.56% and a net margin of 19.38%. The firm had revenue of $309.10 million for the quarter, compared to analysts’ expectations of $306.71 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Buckle will post 5.27 EPS for the current year.

Several large investors have recently made changes to their positions in BKE. Covestor Ltd boosted its stake in shares of Buckle by 2,840.6% during the 1st quarter. Covestor Ltd now owns 941 shares of the company’s stock worth $31,000 after acquiring an additional 909 shares in the last quarter. Professional Financial Advisors LLC boosted its stake in shares of Buckle by 142.2% during the 1st quarter. Professional Financial Advisors LLC now owns 959 shares of the company’s stock worth $32,000 after acquiring an additional 563 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Buckle during the 4th quarter worth approximately $37,000. Captrust Financial Advisors boosted its stake in shares of Buckle by 58.3% during the 1st quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock worth $51,000 after acquiring an additional 573 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Buckle during the 1st quarter worth approximately $71,000. 57.48% of the stock is currently owned by institutional investors and hedge funds.

Buckle Company Profile (Get Rating)

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.

Featured Stories

Get a free copy of the Zacks research report on Buckle (BKE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Buckle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckle and related companies with MarketBeat.com's FREE daily email newsletter.