Deckers Outdoor Co. (NYSE:DECK – Get Rating) – Equities researchers at Wedbush cut their Q3 2023 EPS estimates for shares of Deckers Outdoor in a research note issued to investors on Thursday, September 15th. Wedbush analyst T. Nikic now forecasts that the textile maker will earn $10.16 per share for the quarter, down from their previous forecast of $10.27. Wedbush currently has a “Outperform” rating and a $410.00 target price on the stock. The consensus estimate for Deckers Outdoor’s current full-year earnings is $18.10 per share. Wedbush also issued estimates for Deckers Outdoor’s Q4 2023 earnings at $2.90 EPS.
Deckers Outdoor (NYSE:DECK – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The textile maker reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. Deckers Outdoor had a return on equity of 29.72% and a net margin of 13.76%. The company had revenue of $614.46 million during the quarter, compared to the consensus estimate of $575.31 million.
Deckers Outdoor Price Performance
DECK opened at $337.20 on Monday. The business’s 50-day moving average is $314.82 and its two-hundred day moving average is $281.30. Deckers Outdoor has a 1 year low of $212.93 and a 1 year high of $451.49. The firm has a market capitalization of $8.95 billion, a PE ratio of 20.75 and a beta of 0.90.
Institutional Trading of Deckers Outdoor
Several institutional investors have recently bought and sold shares of the stock. Endurance Wealth Management Inc. acquired a new stake in shares of Deckers Outdoor during the first quarter worth $27,000. Parallel Advisors LLC grew its stake in Deckers Outdoor by 70.3% in the second quarter. Parallel Advisors LLC now owns 126 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 52 shares during the period. Allworth Financial LP boosted its position in shares of Deckers Outdoor by 15,500.0% during the first quarter. Allworth Financial LP now owns 156 shares of the textile maker’s stock worth $43,000 after buying an additional 155 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Deckers Outdoor during the first quarter worth about $43,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Deckers Outdoor by 522.6% during the second quarter. First Horizon Advisors Inc. now owns 193 shares of the textile maker’s stock worth $48,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 97.45% of the company’s stock.
Insider Activity at Deckers Outdoor
In related news, CEO David Powers sold 2,925 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $349.50, for a total value of $1,022,287.50. Following the completion of the sale, the chief executive officer now directly owns 100,972 shares of the company’s stock, valued at approximately $35,289,714. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO David Powers sold 2,925 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $349.50, for a total value of $1,022,287.50. Following the transaction, the chief executive officer now directly owns 100,972 shares of the company’s stock, valued at approximately $35,289,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bonita C. Stewart sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $350.00, for a total value of $175,000.00. Following the completion of the transaction, the director now directly owns 14,019 shares in the company, valued at $4,906,650. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Deckers Outdoor announced that its board has initiated a stock 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 buy up to 14.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
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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