Deckers Outdoor (NYSE:DECK) Downgraded by Piper Sandler to “Neutral”

Piper Sandler downgraded shares of Deckers Outdoor (NYSE:DECK) from an overweight rating to a neutral rating in a research note issued to investors on Thursday, Marketbeat reports. Piper Sandler currently has $650.00 target price on the textile maker’s stock, up from their previous target price of $620.00.

Other research analysts have also recently issued reports about the stock. Robert W. Baird upped their price target on shares of Deckers Outdoor from $575.00 to $620.00 and gave the stock an outperform rating in a report on Friday, July 28th. TD Cowen lifted their price target on shares of Deckers Outdoor from $564.00 to $618.00 and gave the company an outperform rating in a research note on Tuesday, August 15th. Wedbush increased their price objective on Deckers Outdoor from $505.00 to $614.00 in a research note on Wednesday, July 26th. UBS Group upped their target price on Deckers Outdoor from $715.00 to $720.00 and gave the stock a buy rating in a report on Friday, July 28th. Finally, Telsey Advisory Group restated an outperform rating and set a $615.00 price target on shares of Deckers Outdoor in a research note on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $594.38.

Deckers Outdoor Stock Performance

DECK stock opened at $615.26 on Thursday. Deckers Outdoor has a one year low of $337.22 and a one year high of $638.00. The company’s fifty day moving average price is $541.27 and its 200-day moving average price is $525.16. The company has a market capitalization of $15.83 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.50 and a beta of 0.95.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, October 26th. The textile maker reported $6.82 EPS for the quarter, topping the consensus estimate of $4.41 by $2.41. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $960.54 million. Deckers Outdoor had a return on equity of 33.96% and a net margin of 15.51%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $3.80 earnings per share. On average, research analysts predict that Deckers Outdoor will post 23.4 EPS for the current fiscal year.

Insider Activity at Deckers Outdoor

In other news, insider Thomas Garcia sold 3,595 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $516.73, for a total transaction of $1,857,644.35. Following the transaction, the insider now owns 16,457 shares in the company, valued at $8,503,825.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Deckers Outdoor news, insider Thomas Garcia sold 3,595 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $516.73, for a total value of $1,857,644.35. Following the sale, the insider now owns 16,457 shares in the company, valued at approximately $8,503,825.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael F. Devine III sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $587.00, for a total transaction of $2,348,000.00. Following the completion of the transaction, the director now owns 8,088 shares of the company’s stock, valued at $4,747,656. The disclosure for this sale can be found here. Insiders have sold 14,787 shares of company stock valued at $8,251,144 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Deckers Outdoor in the first quarter valued at about $22,148,000. LPL Financial LLC raised its holdings in Deckers Outdoor by 6.8% in the 2nd quarter. LPL Financial LLC now owns 18,404 shares of the textile maker’s stock valued at $9,711,000 after acquiring an additional 1,169 shares during the last quarter. Citigroup Inc. lifted its stake in Deckers Outdoor by 10.7% in the 1st quarter. Citigroup Inc. now owns 16,348 shares of the textile maker’s stock worth $7,349,000 after purchasing an additional 1,581 shares in the last quarter. Northstar Group Inc. acquired a new position in shares of Deckers Outdoor during the 2nd quarter worth approximately $201,000. Finally, MAI Capital Management grew its position in shares of Deckers Outdoor by 9.8% in the first quarter. MAI Capital Management now owns 837 shares of the textile maker’s stock valued at $376,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.

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 in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.