Deckers Outdoor (NYSE:DECK) Price Target Raised to $235.00

Deckers Outdoor (NYSE:DECK) had its price target hoisted by analysts at Truist Financial from $230.00 to $235.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Truist Financial’s price target would suggest a potential upside of 11.82% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. TD Cowen lifted their target price on Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Telsey Advisory Group lifted their price objective on shares of Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Guggenheim assumed coverage on shares of Deckers Outdoor in a research note on Wednesday, October 9th. They issued a “neutral” rating on the stock. Robert W. Baird boosted their target price on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Seaport Res Ptn lowered shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.06.

Deckers Outdoor Trading Up 0.9 %

Shares of Deckers Outdoor stock opened at $210.15 on Thursday. Deckers Outdoor has a 12-month low of $120.23 and a 12-month high of $214.70. The firm’s 50 day simple moving average is $199.20 and its two-hundred day simple moving average is $123.15. The firm has a market capitalization of $31.93 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 2.89 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. On average, sell-side analysts predict that Deckers Outdoor will post 5.53 EPS for the current fiscal year.

Insider Activity

In related news, insider Thomas Garcia sold 18,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $175.28, for a total transaction of $3,155,040.00. Following the completion of the transaction, the insider now owns 63,642 shares in the company, valued at $11,155,169.76. This represents a 22.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Caroti Stefano sold 14,274 shares of Deckers Outdoor stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the completion of the sale, the chief executive officer now owns 259,266 shares in the company, valued at approximately $54,015,478.44. The trade was a 5.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,036 shares of company stock worth $13,715,482 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after acquiring an additional 19,053,113 shares in the last quarter. State Street Corp grew its position in shares of Deckers Outdoor by 513.8% in the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock valued at $1,049,867,000 after purchasing an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Deckers Outdoor by 509.1% in the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock valued at $646,316,000 after purchasing an additional 3,393,420 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Deckers Outdoor by 529.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after buying an additional 1,074,263 shares in the last quarter. 97.79% of the stock is 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.