Deckers Outdoor (NYSE:DECK) Upgraded to “Outperform” by Wedbush

Wedbush upgraded shares of Deckers Outdoor (NYSE:DECKGet Rating) from a neutral rating to an outperform rating in a research note released on Thursday, Marketbeat reports. The brokerage currently has $410.00 target price on the textile maker’s stock, up from their prior target price of $320.00.

Several other research firms have also recently commented on DECK. TheStreet upgraded Deckers Outdoor from a c+ rating to a b rating in a research note on Friday, August 12th. Robert W. Baird restated an outperform rating and issued a $375.00 price target on shares of Deckers Outdoor in a research report on Tuesday, August 2nd. UBS Group increased their price objective on Deckers Outdoor from $378.00 to $400.00 and gave the company a buy rating in a research note on Friday, July 29th. Cowen increased their price objective on Deckers Outdoor from $407.00 to $415.00 in a research note on Friday, July 29th. Finally, BTIG Research decreased their price objective on Deckers Outdoor from $487.00 to $477.00 and set a buy rating on the stock in a research note on Thursday, July 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $391.91.

Deckers Outdoor Trading Up 1.5 %

DECK stock opened at $339.30 on Thursday. The company has a market capitalization of $9.00 billion, a P/E ratio of 20.88 and a beta of 0.90. Deckers Outdoor has a twelve month low of $212.93 and a twelve month high of $451.49. The business has a 50 day simple moving average of $313.47 and a 200-day simple moving average of $280.76.

Deckers Outdoor (NYSE:DECKGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The textile maker reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.33. The business had revenue of $614.46 million during the quarter, compared to the consensus estimate of $575.31 million. Deckers Outdoor had a return on equity of 29.72% and a net margin of 13.76%. Research analysts predict that Deckers Outdoor will post 18.1 EPS for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has approved a stock repurchase plan 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 plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Deckers Outdoor

In related news, Director Bonita C. Stewart sold 500 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $350.00, for a total transaction of $175,000.00. Following the sale, the director now directly owns 14,019 shares in the company, valued at approximately $4,906,650. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO David Powers sold 2,925 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $349.50, for a total transaction of $1,022,287.50. Following the sale, the chief executive officer now directly owns 100,972 shares in the company, valued at approximately $35,289,714. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bonita C. Stewart sold 500 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $350.00, for a total value of $175,000.00. Following the sale, the director now owns 14,019 shares in the company, valued at $4,906,650. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC increased its holdings in Deckers Outdoor by 0.8% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 4,559 shares of the textile maker’s stock worth $1,164,000 after purchasing an additional 35 shares during the last quarter. US Bancorp DE increased its holdings in Deckers Outdoor by 2.1% during the 2nd quarter. US Bancorp DE now owns 2,155 shares of the textile maker’s stock worth $551,000 after purchasing an additional 45 shares during the last quarter. Hood River Capital Management LLC increased its holdings in Deckers Outdoor by 1.3% during the 1st quarter. Hood River Capital Management LLC now owns 3,874 shares of the textile maker’s stock worth $1,061,000 after purchasing an additional 49 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Deckers Outdoor by 0.7% during the 1st quarter. Panagora Asset Management Inc. now owns 7,400 shares of the textile maker’s stock worth $2,026,000 after purchasing an additional 50 shares during the last quarter. Finally, Suncoast Equity Management increased its holdings in Deckers Outdoor by 2.8% during the 2nd quarter. Suncoast Equity Management now owns 1,865 shares of the textile maker’s stock worth $476,000 after purchasing an additional 50 shares during the last quarter. 97.45% of the stock is currently owned by hedge funds and other institutional investors.

Deckers Outdoor Company Profile

(Get Rating)

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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Analyst Recommendations for Deckers Outdoor (NYSE:DECK)

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