Deckers Outdoor (NYSE:DECK) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Deckers Outdoor (NYSE:DECK) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday.

A number of other equities research analysts have also commented on the company. Robert W. Baird upped their target price on Deckers Outdoor from $29.17 to $29.86 and gave the company an outperform rating in a research report on Friday, July 26th. Telsey Advisory Group reaffirmed an outperform rating and issued a $30.56 price objective on shares of Deckers Outdoor in a report on Friday, July 26th. Wedbush reiterated an outperform rating and issued a $28.61 price objective on shares of Deckers Outdoor in a research note on Friday, July 26th. Evercore ISI decreased their target price on shares of Deckers Outdoor from $30.83 to $30.56 and set an outperform rating for the company in a research report on Monday, July 15th. Finally, Truist Financial increased their price target on Deckers Outdoor from $33.33 to $34.03 and gave the stock a buy rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Deckers Outdoor has a consensus rating of Moderate Buy and a consensus price target of $37.06.

Deckers Outdoor Trading Down 3.3 %

NYSE:DECK opened at $152.11 on Tuesday. The company has a market capitalization of $3.87 billion, a P/E ratio of 5.19, a PEG ratio of 2.66 and a beta of 1.05. Deckers Outdoor has a 12 month low of $80.67 and a 12 month high of $184.48. The firm has a fifty day simple moving average of $35.66 and a 200-day simple moving average of $29.17.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company 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 40.52% and a net margin of 18.45%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities analysts forecast that Deckers Outdoor will post 31.6 EPS for the current year.

Insider Activity

In other news, Director David Powers sold 140,832 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the transaction, the director now owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Large investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new stake in Deckers Outdoor during the 4th quarter worth approximately $206,000. Panagora Asset Management Inc. boosted its stake in shares of Deckers Outdoor by 96.6% in the fourth quarter. Panagora Asset Management Inc. now owns 2,408 shares of the textile maker’s stock worth $1,610,000 after acquiring an additional 1,183 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of Deckers Outdoor by 53.3% during the fourth quarter. Level Four Advisory Services LLC now owns 961 shares of the textile maker’s stock worth $642,000 after purchasing an additional 334 shares in the last quarter. Norges Bank acquired a new position in Deckers Outdoor in the 4th quarter valued at $196,814,000. Finally, Coldstream Capital Management Inc. lifted its holdings in Deckers Outdoor by 3.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,187 shares of the textile maker’s stock valued at $793,000 after purchasing an additional 38 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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