Deckers Outdoor (NYSE:DECK) Hits New 12-Month High After Analyst Upgrade

Deckers Outdoor Co. (NYSE:DECK – Get Rating) shares hit a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $280.00 to $360.00. Wells Fargo & Company currently has an equal weight rating on the stock. Deckers Outdoor traded as high as $404.92 and last traded at $402.80, with a volume of 6497 shares changing hands. The stock had previously closed at $397.57.

A number of other brokerages have also issued reports on DECK. Cowen increased their target price on shares of Deckers Outdoor from $393.00 to $450.00 in a research report on Tuesday, November 29th. Telsey Advisory Group raised their price objective on shares of Deckers Outdoor from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. Bank of America restated a “buy” rating and set a $425.00 price objective on shares of Deckers Outdoor in a research report on Tuesday, November 1st. Piper Sandler raised their price objective on shares of Deckers Outdoor from $440.00 to $470.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. Finally, Cowen raised their price objective on shares of Deckers Outdoor from $393.00 to $450.00 in a research report on Tuesday, November 29th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $421.08.

Insider Buying and Selling at Deckers Outdoor

In other news, CEO David Powers sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $355.00, for a total value of $1,029,500.00. Following the sale, the chief executive officer now owns 94,772 shares in the company, valued at $33,644,060. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Angela Ogbechie sold 455 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $360.62, for a total value of $164,082.10. Following the sale, the insider now owns 3,024 shares in the company, valued at $1,090,514.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Powers sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $355.00, for a total transaction of $1,029,500.00. Following the completion of the sale, the chief executive officer now owns 94,772 shares in the company, valued at approximately $33,644,060. The disclosure for this sale can be found here. Insiders have sold a total of 10,875 shares of company stock worth $4,110,149 over the last 90 days. 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 modified their holdings of DECK. Steadfast Capital Management LP lifted its position in Deckers Outdoor by 8,817.1% in the first quarter. Steadfast Capital Management LP now owns 833,391 shares of the textile maker’s stock worth $228,157,000 after purchasing an additional 824,045 shares during the period. Congress Asset Management Co. MA bought a new position in Deckers Outdoor in the third quarter worth $109,791,000. Lord Abbett & CO. LLC lifted its position in Deckers Outdoor by 372.1% in the third quarter. Lord Abbett & CO. LLC now owns 233,873 shares of the textile maker’s stock worth $73,111,000 after purchasing an additional 184,331 shares during the period. Goldman Sachs Group Inc. lifted its position in Deckers Outdoor by 83.1% in the second quarter. Goldman Sachs Group Inc. now owns 362,863 shares of the textile maker’s stock worth $92,657,000 after purchasing an additional 164,730 shares during the period. Finally, Luxor Capital Group LP bought a new position in Deckers Outdoor in the first quarter worth $44,789,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Deckers Outdoor Stock Up 2.1 %

The stock has a market capitalization of $10.74 billion, a P/E ratio of 24.76, a PEG ratio of 1.22 and a beta of 0.89. The firm has a 50-day moving average of $374.43 and a 200 day moving average of $337.18.

Deckers Outdoor (NYSE:DECK – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The textile maker reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.14. The company had revenue of $875.61 million during the quarter, compared to analysts’ expectations of $808.31 million. Deckers Outdoor had a return on equity of 29.42% and a net margin of 13.13%. Analysts predict that Deckers Outdoor Co. will post 18.11 EPS for the current fiscal year.

Deckers Outdoor Company Profile

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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.