Deckers Outdoor (NYSE:DECK – Get 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 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
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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