Private Client Services LLC Makes New Investment in Deckers Outdoor Co. (NYSE:DECK)

Private Client Services LLC bought a new position in Deckers Outdoor Co. (NYSE:DECK) during the first quarter, HoldingsChannel.com reports. The fund bought 8,179 shares of the textile maker’s stock, valued at approximately $914,000.

Other institutional investors have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Deckers Outdoor in the fourth quarter worth $26,000. Headlands Technologies LLC purchased a new stake in Deckers Outdoor during the 4th quarter valued at about $29,000. Vega Investment Solutions purchased a new stake in shares of Deckers Outdoor during the fourth quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock valued at $34,000 after buying an additional 120 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter valued at approximately $41,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Trading Up 2.8%

DECK opened at $107.25 on Friday. The company’s 50 day moving average is $113.41 and its 200 day moving average is $156.26. The company has a market cap of $16.28 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. As a group, analysts predict that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

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

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now owns 10,388 shares of the company’s stock, valued at $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

DECK has been the topic of a number of recent analyst reports. Guggenheim reiterated a “neutral” rating on shares of Deckers Outdoor in a report on Friday, January 31st. Citigroup dropped their price objective on Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. 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 research report on Thursday, April 10th. KeyCorp reaffirmed a “sector weight” rating and set a $150.00 price target on shares of Deckers Outdoor in a report on Friday, May 23rd. Finally, Cowen reaffirmed a “buy” rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Thirteen equities research 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’s stock. According to data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.68.

Deckers Outdoor Profile

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.