Deckers Outdoor (NYSE:DECK) Price Target Raised to $400.00 at UBS Group

Deckers Outdoor (NYSE:DECKGet Rating) had its target price raised by UBS Group from $378.00 to $400.00 in a report issued on Friday, MarketBeat reports. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other brokerages also recently commented on DECK. Cowen increased their price target on Deckers Outdoor from $407.00 to $415.00 in a report on Friday. Wells Fargo & Company assumed coverage on Deckers Outdoor in a research note on Monday, June 27th. They set an equal weight rating and a $280.00 price objective on the stock. Cowen upped their price objective on Deckers Outdoor from $358.00 to $407.00 and gave the company an outperform rating in a research note on Friday, May 20th. Wedbush upped their price objective on Deckers Outdoor from $292.00 to $312.00 and gave the company a neutral rating in a research note on Thursday, July 21st. Finally, Robert W. Baird cut their price objective on Deckers Outdoor from $525.00 to $375.00 and set an outperform rating on the stock in a research note on Friday, May 20th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $383.00.

Deckers Outdoor Stock Performance

Shares of DECK opened at $314.01 on Friday. The company has a market capitalization of $8.33 billion, a P/E ratio of 19.32 and a beta of 0.91. Deckers Outdoor has a one year low of $212.93 and a one year high of $451.49. The stock has a 50-day moving average price of $268.76 and a 200 day moving average price of $275.17.

Deckers Outdoor (NYSE:DECKGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The textile maker reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $1.16. The firm had revenue of $736.00 million during the quarter, compared to the consensus estimate of $639.81 million. Deckers Outdoor had a return on equity of 29.72% and a net margin of 13.76%. Deckers Outdoor’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. As a group, equities research analysts forecast that Deckers Outdoor will post 18.06 earnings per share for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has authorized a share repurchase program on Thursday, July 28th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the textile maker to purchase up to 14.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Deckers Outdoor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank N A MO bought a new position in Deckers Outdoor in the 4th quarter worth approximately $36,000. Endurance Wealth Management Inc. bought a new position in Deckers Outdoor in the 1st quarter worth approximately $27,000. Parallel Advisors LLC grew its holdings in Deckers Outdoor by 70.3% in the 2nd quarter. Parallel Advisors LLC now owns 126 shares of the textile maker’s stock worth $32,000 after buying an additional 52 shares in the last quarter. Sageworth Trust Co of South Dakota bought a new position in Deckers Outdoor in the 4th quarter worth approximately $52,000. Finally, Allworth Financial LP grew its holdings in Deckers Outdoor by 15,500.0% in the 1st quarter. Allworth Financial LP now owns 156 shares of the textile maker’s stock worth $43,000 after buying an additional 155 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

About Deckers Outdoor

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Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

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