Wedbush Upgrades Deckers Outdoor (NYSE:DECK) to Outperform

Deckers Outdoor (NYSE:DECKGet Rating) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat.com reports. The firm presently has a $410.00 target price on the textile maker’s stock, up from their previous target price of $320.00. Wedbush’s price objective suggests a potential upside of 20.84% from the stock’s current price.

Other analysts have also issued reports about the stock. BTIG Research cut their price target on shares of Deckers Outdoor from $487.00 to $477.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Robert W. Baird reissued an “outperform” rating and set a $375.00 price objective on shares of Deckers Outdoor in a research report on Tuesday, August 2nd. Jefferies Financial Group downgraded Deckers Outdoor from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $350.00 to $300.00 in a research report on Monday, August 1st. Stifel Nicolaus boosted their price objective on Deckers Outdoor from $338.00 to $339.00 in a research report on Wednesday, July 20th. Finally, Cowen upped their price target on Deckers Outdoor from $407.00 to $415.00 in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Deckers Outdoor presently has an average rating of “Moderate Buy” and an average price target of $391.91.

Deckers Outdoor Stock Up 1.5 %

Shares of DECK opened at $339.30 on Thursday. The firm’s fifty day moving average is $313.47 and its two-hundred day moving average is $280.76. The stock has a market cap of $9.00 billion, a PE ratio of 20.88 and a beta of 0.90. Deckers Outdoor has a 52-week low of $212.93 and a 52-week high of $451.49.

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

Deckers Outdoor announced that its board has approved a stock buyback program on Thursday, July 28th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Deckers Outdoor news, Director Bonita C. Stewart sold 500 shares of the stock in a transaction on Thursday, September 8th. The stock was 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 owns 14,019 shares in the company, valued at $4,906,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Deckers Outdoor news, Director Bonita C. Stewart sold 500 shares of the stock in a transaction on Thursday, September 8th. The stock was 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 owns 14,019 shares in the company, valued at $4,906,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Powers sold 2,925 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $349.50, for a total value of $1,022,287.50. Following the completion of the transaction, the chief executive officer now owns 100,972 shares of the company’s stock, valued at approximately $35,289,714. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Deckers Outdoor

Hedge funds have recently added to or reduced their stakes in the business. Endurance Wealth Management Inc. acquired a new position in shares of Deckers Outdoor in the 1st quarter valued at about $27,000. Parallel Advisors LLC increased its holdings in Deckers Outdoor by 70.3% during the 2nd quarter. Parallel Advisors LLC now owns 126 shares of the textile maker’s stock worth $32,000 after purchasing an additional 52 shares during the last quarter. Allworth Financial LP increased its holdings in Deckers Outdoor by 15,500.0% during the 1st quarter. Allworth Financial LP now owns 156 shares of the textile maker’s stock worth $43,000 after purchasing an additional 155 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Deckers Outdoor during the 1st quarter worth approximately $43,000. Finally, Quadrant Capital Group LLC grew its position in shares of Deckers Outdoor by 187.1% in the 1st quarter. Quadrant Capital Group LLC now owns 178 shares of the textile maker’s stock worth $49,000 after acquiring an additional 116 shares in the last quarter. 97.45% of the stock is owned by institutional investors and hedge funds.

About Deckers Outdoor

(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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