KeyBanc Downgrades Buckle (BKE) to Underweight
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KeyBanc downgrades Buckle (NYSE: BKE) from Hold to Underweight.
KeyBanc analyst says, "Buckle is an extremely well-managed company, but it may settle into a period of lower earnings growth. We adopt an UNDERWEIGHT stance with some degree of reticence given what we view is one of the strongest management and merchant teams in our coverage universe. Nevertheless, Men's trends are showing significant deceleration with largely no growth excluding AUR and extremely difficult comparisons (35% and 29% comparisons in May and June)...We think that gross margin gains are largely behind Buckle, and with sales growth likely to slow, earnings growth should slow."
To see more analyst ratings on BKE Click Here.
The Buckle, Inc. is a retailer of medium to better-priced casual apparel, footwear and accessories for fashion conscious young men and women.
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