KeyBanc Downgrades Buckle, Inc. (BKE) to Underweight; Droughts and Dustbowls

July 25, 2012 8:04 AM EDT Send to a Friend
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Price: $43.02 -1.89%

Rating Summary:
    2 Buy, 6 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 9 | New: 22
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KeyBanc downgraded Buckle, Inc. (NYSE: BKE) from Hold to Underweight, lower price target of $33.00.

Analyst, Edward Yruma, said, The Buckle is one of the best managed retailers in our coverage; however, we view the current margin levels unsustainable due to the current agricultural environment and move UW...We believe that the recent comp deceleration, which was previously cited as weakness due to a lack of colored denim, might have its roots in weaker macroeconomic conditions. We also believe that Buckle has driven much of its recent comp gains via AUR (average unit retail) and we believe this will be less of a tailwind going forward."

FY12 EPS estimate lowered to $3.27.

For an analyst ratings summary and ratings history on Buckle, Inc. click here. For more ratings news on Buckle, Inc. click here.

Shares of Buckle, Inc. closed at $39.09 yesterday.




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