Deckers Outdoor (NYSE:DECK) Posts Quarterly Earnings Results, Beats Expectations By $0.57 EPS

Deckers Outdoor (NYSE:DECK) issued its earnings results on Thursday. The textile maker reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.57, Zacks reports. Deckers Outdoor had a return on equity of 40.54% and a net margin of 19.47%.

Deckers Outdoor Trading Up 2.3%

NYSE:DECK traded up $2.29 during midday trading on Thursday, hitting $99.91. 5,406,716 shares of the company traded hands, compared to its average volume of 2,781,282. The firm has a market capitalization of $14.56 billion, a P/E ratio of 14.80, a P/E/G ratio of 4.52 and a beta of 1.15. The firm’s fifty day moving average is $99.14 and its 200-day moving average is $101.37. Deckers Outdoor has a 12-month low of $78.91 and a 12-month high of $223.98.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays lowered their target price on shares of Deckers Outdoor from $141.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, October 27th. TD Cowen reissued a “buy” rating on shares of Deckers Outdoor in a report on Friday, October 24th. Zacks Research cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Evercore ISI decreased their target price on Deckers Outdoor from $115.00 to $110.00 and set an “in-line” rating on the stock in a research report on Friday, October 17th. Finally, Needham & Company LLC restated a “buy” rating on shares of Deckers Outdoor in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.74.

Insider Buying and Selling at Deckers Outdoor

In other news, insider Angela Ogbechie sold 1,460 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $81.45, for a total value of $118,917.00. Following the completion of the sale, the insider owned 34,020 shares in the company, valued at approximately $2,770,929. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Deckers Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in shares of Deckers Outdoor by 330.8% during the second quarter. Geneos Wealth Management Inc. now owns 280 shares of the textile maker’s stock valued at $29,000 after buying an additional 215 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Deckers Outdoor by 45.5% during the 2nd quarter. Rakuten Securities Inc. now owns 320 shares of the textile maker’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Deckers Outdoor during the 2nd quarter worth approximately $46,000. Smartleaf Asset Management LLC boosted its holdings in Deckers Outdoor by 210.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,378 shares of the textile maker’s stock valued at $144,000 after acquiring an additional 934 shares during the period. Finally, New Vernon Capital Holdings II LLC bought a new position in Deckers Outdoor in the 3rd quarter valued at $161,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.