Deckers Outdoor (NYSE:DECK) Earns “Sector Weight” Rating from KeyCorp

KeyCorp reiterated their sector weight rating on shares of Deckers Outdoor (NYSE:DECK) in a research report released on Friday morning, MarketBeat reports. The firm currently has a $150.00 price objective on the textile maker’s stock.

Several other analysts have also weighed in on the company. Raymond James upgraded Deckers Outdoor from an “outperform” rating to a “strong-buy” rating and cut their price objective for the company from $235.00 to $150.00 in a report on Thursday, April 10th. Bank of America boosted their target price on Deckers Outdoor from $182.00 to $217.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Deckers Outdoor in a research report on Friday, January 31st. TD Securities boosted their target price on Deckers Outdoor from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Cowen reaffirmed a “buy” rating on shares of Deckers Outdoor in a research report on Tuesday. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Deckers Outdoor presently has an average rating of “Moderate Buy” and an average target price of $134.68.

Deckers Outdoor Stock Down 20.0%

Shares of Deckers Outdoor stock opened at $100.89 on Friday. The firm has a market cap of $15.31 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. The business has a fifty day simple moving average of $114.55 and a 200-day simple moving average of $158.10. Deckers Outdoor has a fifty-two week low of $93.72 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Analysts anticipate that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its board has authorized a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, Director David Powers sold 25,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $138.84, for a total value of $3,471,000.00. Following the transaction, the director now directly owns 241,777 shares of the company’s stock, valued at $33,568,318.68. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the transaction, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Resonant Capital Advisors LLC increased its position in Deckers Outdoor by 2.2% in the 4th quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker’s stock worth $489,000 after purchasing an additional 52 shares during the last quarter. Bleakley Financial Group LLC increased its position in Deckers Outdoor by 3.9% in the 4th quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker’s stock worth $293,000 after purchasing an additional 54 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Deckers Outdoor by 2.6% during the 4th quarter. Mather Group LLC. now owns 2,567 shares of the textile maker’s stock worth $521,000 after acquiring an additional 64 shares in the last quarter. Prosperity Wealth Management Inc. boosted its stake in shares of Deckers Outdoor by 2.8% during the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker’s stock worth $564,000 after acquiring an additional 75 shares in the last quarter. Finally, WD Rutherford LLC boosted its stake in shares of Deckers Outdoor by 4.8% during the 4th quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker’s stock worth $352,000 after acquiring an additional 79 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.