Deckers Outdoor Co. (NYSE:DECK – Get Rating) – Investment analysts at Jefferies Financial Group issued their Q2 2023 earnings per share (EPS) estimates for shares of Deckers Outdoor in a research note issued to investors on Monday, August 1st. Jefferies Financial Group analyst A. Helgans expects that the textile maker will post earnings per share of $3.64 for the quarter. Jefferies Financial Group currently has a “Hold” rating and a $300.00 price target on the stock. The consensus estimate for Deckers Outdoor’s current full-year earnings is $18.14 per share. Jefferies Financial Group also issued estimates for Deckers Outdoor’s Q3 2023 earnings at $9.03 EPS, Q4 2023 earnings at $3.40 EPS, FY2023 earnings at $17.71 EPS, Q1 2024 earnings at $2.10 EPS, Q2 2024 earnings at $4.60 EPS, Q3 2024 earnings at $10.00 EPS, Q4 2024 earnings at $3.74 EPS and FY2024 earnings at $20.42 EPS.
DECK has been the subject of several other research reports. Robert W. Baird reiterated an “outperform” rating and issued a $375.00 price objective on shares of Deckers Outdoor in a research note on Tuesday. BTIG Research cut their target price on Deckers Outdoor from $487.00 to $477.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. Stifel Nicolaus raised their target price on Deckers Outdoor from $338.00 to $339.00 in a research report on Wednesday, July 20th. Cowen raised their target price on Deckers Outdoor from $407.00 to $415.00 in a research report on Friday, July 29th. Finally, UBS Group raised their target price on Deckers Outdoor from $378.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Deckers Outdoor currently has a consensus rating of “Moderate Buy” and a consensus target price of $383.00.
Deckers Outdoor Stock Performance
Deckers Outdoor (NYSE:DECK – Get Rating) last announced its 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. Deckers Outdoor had a return on equity of 29.72% and a net margin of 13.76%. The company had revenue of $736.00 million during the quarter, compared to analysts’ expectations of $639.81 million. During the same period last year, the business posted $1.18 EPS. Deckers Outdoor’s revenue for the quarter was up 31.1% on a year-over-year basis.
Deckers Outdoor announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 28th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the textile maker to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Institutional Trading of Deckers Outdoor
A number of institutional investors have recently modified their holdings of DECK. Steadfast Capital Management LP boosted its position in Deckers Outdoor by 8,817.1% during the first quarter. Steadfast Capital Management LP now owns 833,391 shares of the textile maker’s stock worth $228,157,000 after purchasing an additional 824,045 shares in the last quarter. Suvretta Capital Management LLC purchased a new stake in Deckers Outdoor during the fourth quarter worth $79,207,000. American Century Companies Inc. boosted its position in Deckers Outdoor by 56.5% during the fourth quarter. American Century Companies Inc. now owns 571,017 shares of the textile maker’s stock worth $209,169,000 after purchasing an additional 206,161 shares in the last quarter. Luxor Capital Group LP purchased a new stake in Deckers Outdoor during the first quarter worth $44,789,000. Finally, 1832 Asset Management L.P. boosted its position in Deckers Outdoor by 59.4% during the fourth quarter. 1832 Asset Management L.P. now owns 364,437 shares of the textile maker’s stock worth $135,435,000 after purchasing an additional 135,837 shares in the last quarter. 96.81% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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