Deckers Outdoor (NYSE:DECK) Shares Gap Up After Strong Earnings

Deckers Outdoor Co. (NYSE:DECK)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $841.50, but opened at $959.81. Deckers Outdoor shares last traded at $931.61, with a volume of 268,458 shares traded.

The textile maker reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.93. The firm had revenue of $825.30 million during the quarter, compared to analysts’ expectations of $808.40 million. Deckers Outdoor had a return on equity of 38.85% and a net margin of 17.69%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.41 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DECK shares. Barclays decreased their price target on shares of Deckers Outdoor from $1,110.00 to $1,026.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Truist Financial boosted their price target on shares of Deckers Outdoor from $1,200.00 to $1,225.00 and gave the stock a “buy” rating in a research note on Friday. BTIG Research raised their price objective on Deckers Outdoor from $1,120.00 to $1,200.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Bank of America lifted their price objective on Deckers Outdoor from $860.00 to $1,020.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Finally, Wedbush restated an “outperform” rating and set a $1,030.00 target price on shares of Deckers Outdoor in a report on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,025.94.

Insider Activity

In related news, CEO David Powers sold 10,955 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $1,086.50, for a total value of $11,902,607.50. Following the completion of the sale, the chief executive officer now owns 76,006 shares of the company’s stock, valued at $82,580,519. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Powers sold 10,955 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $1,086.50, for a total value of $11,902,607.50. Following the completion of the transaction, the chief executive officer now directly owns 76,006 shares of the company’s stock, valued at $82,580,519. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Ogbechie sold 153 shares of Deckers Outdoor stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $1,077.93, for a total value of $164,923.29. Following the sale, the insider now directly owns 3,779 shares in the company, valued at $4,073,497.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,108 shares of company stock valued at $23,919,671. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Institutional investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its holdings in shares of Deckers Outdoor by 437.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 43 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 35 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Deckers Outdoor during the first quarter valued at $36,000. EntryPoint Capital LLC boosted its holdings in Deckers Outdoor by 256.3% in the first quarter. EntryPoint Capital LLC now owns 57 shares of the textile maker’s stock worth $54,000 after acquiring an additional 41 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Deckers Outdoor by 265.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 84 shares of the textile maker’s stock worth $56,000 after acquiring an additional 61 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Deckers Outdoor during the first quarter valued at $61,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Performance

The stock has a market cap of $23.98 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.81 and a beta of 1.06. The firm has a 50-day moving average price of $970.49 and a 200-day moving average price of $888.57.

Shares of Deckers Outdoor are going to split on the morning of Tuesday, September 17th. The 6-1 split was announced on Tuesday, September 17th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, September 17th.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.