Wedbush Reiterates Outperform Rating for Deckers Outdoor (NYSE:DECK)

Deckers Outdoor (NYSE:DECK)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $1,000.00 target price on the textile maker’s stock. Wedbush’s price objective would suggest a potential upside of 21.96% from the stock’s current price.

Several other research firms have also recently weighed in on DECK. Piper Sandler lifted their price target on shares of Deckers Outdoor from $650.00 to $730.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Telsey Advisory Group reiterated an “outperform” rating and issued a $930.00 price target on shares of Deckers Outdoor in a report on Thursday, February 15th. KeyCorp initiated coverage on Deckers Outdoor in a research report on Wednesday, February 7th. They set an “overweight” rating and a $960.00 price objective for the company. UBS Group raised their price objective on Deckers Outdoor from $950.00 to $1,150.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays initiated coverage on Deckers Outdoor in a research report on Monday, April 1st. They set an “overweight” rating and a $1,110.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and a consensus price target of $870.93.

Deckers Outdoor Price Performance

Shares of NYSE DECK opened at $819.93 on Wednesday. Deckers Outdoor has a one year low of $424.36 and a one year high of $956.17. The firm’s 50 day simple moving average is $888.78 and its two-hundred day simple moving average is $722.70. The stock has a market capitalization of $21.05 billion, a P/E ratio of 29.49, a PEG ratio of 1.57 and a beta of 1.01.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.40 by $3.71. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business earned $10.48 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts expect that Deckers Outdoor will post 26.87 earnings per share for the current fiscal year.

Insider Transactions at Deckers Outdoor

In other news, CEO David Powers sold 5,993 shares of Deckers Outdoor stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $922.85, for a total value of $5,530,640.05. Following the completion of the transaction, the chief executive officer now owns 98,218 shares of the company’s stock, valued at approximately $90,640,481.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Deckers Outdoor news, CEO David Powers sold 5,993 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $922.85, for a total value of $5,530,640.05. Following the completion of the transaction, the chief executive officer now owns 98,218 shares of the company’s stock, valued at approximately $90,640,481.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Ogbechie sold 313 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $844.13, for a total value of $264,212.69. Following the completion of the transaction, the insider now directly owns 4,027 shares of the company’s stock, valued at approximately $3,399,311.51. The disclosure for this sale can be found here. Insiders sold a total of 42,449 shares of company stock valued at $34,172,388 in the last quarter. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Hedge funds have recently bought and sold shares of the business. FinTrust Capital Advisors LLC raised its position in Deckers Outdoor by 437.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 43 shares of the textile maker’s stock worth $29,000 after buying an additional 35 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of Deckers Outdoor during the 4th quarter valued at about $33,000. Contravisory Investment Management Inc. bought a new stake in shares of Deckers Outdoor during the 1st quarter valued at about $36,000. FSC Wealth Advisors LLC bought a new stake in shares of Deckers Outdoor during the 4th quarter valued at about $39,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Deckers Outdoor by 170.0% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 81 shares of the textile maker’s stock valued at $42,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 97.79% 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.