Deckers Outdoor (NYSE:DECK) Price Target Lowered to $128.00 at Bank of America

Deckers Outdoor (NYSE:DECK) had its price target cut by Bank of America from $154.00 to $128.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

DECK has been the topic of a number of other research reports. Stifel Nicolaus dropped their price objective on Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $120.00 price objective (down previously from $240.00) on shares of Deckers Outdoor in a report on Thursday. TD Securities upped their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group upped their price objective on Deckers Outdoor from $158.00 to $169.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group upped their target price on Deckers Outdoor from $180.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, January 28th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and an average target price of $134.68.

Deckers Outdoor Trading Down 20.0%

Shares of NYSE DECK opened at $100.89 on Friday. Deckers Outdoor has a twelve month low of $93.72 and a twelve month high of $223.98. The stock has a 50 day moving average of $114.55 and a two-hundred day moving average of $158.10. The stock has a market cap of $15.31 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion for 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 for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, research analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current year.

Deckers Outdoor declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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 transaction of $3,471,000.00. Following the completion of the sale, the director now directly owns 241,777 shares in the company, valued at $33,568,318.68. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 sale, the director now owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents 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 currently owned by company insiders.

Institutional Investors Weigh In On Deckers Outdoor

Several institutional investors and hedge funds have recently added to or reduced their stakes in DECK. Norges Bank acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at about $392,583,000. JPMorgan Chase & Co. lifted its holdings in shares of Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Deckers Outdoor by 1,998.7% in the 1st quarter. Federated Hermes Inc. now owns 1,163,977 shares of the textile maker’s stock worth $130,144,000 after purchasing an additional 1,108,516 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Deckers Outdoor in the 4th quarter worth approximately $185,451,000. Finally, Nuveen LLC bought a new stake in shares of Deckers Outdoor in the 1st quarter worth approximately $97,935,000. 97.79% of the stock is currently 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.