Deckers Outdoor (NYSE:DECK) Rating Lowered to Neutral at Bank of America

Deckers Outdoor (NYSE:DECK) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $860.00 price target on the textile maker’s stock, down from their prior price target of $875.00. Bank of America‘s price target would suggest a potential upside of 3.18% from the stock’s previous close.

DECK has been the subject of a number of other reports. Truist Financial reaffirmed a “hold” rating and issued a $864.00 target price (down from $983.00) on shares of Deckers Outdoor in a report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on Deckers Outdoor from $625.00 to $775.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Raymond James lifted their target price on Deckers Outdoor from $585.00 to $845.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Telsey Advisory Group restated an “outperform” rating and set a $930.00 price target on shares of Deckers Outdoor in a research note on Thursday, February 15th. Finally, Evercore ISI started coverage on Deckers Outdoor in a report on Thursday, February 15th. They set an “outperform” rating and a $960.00 price target for the company. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Deckers Outdoor presently has an average rating of “Moderate Buy” and a consensus target price of $889.00.

Deckers Outdoor Stock Up 3.3 %

DECK opened at $833.46 on Thursday. Deckers Outdoor has a 52 week low of $424.36 and a 52 week high of $956.17. The business’s 50 day moving average is $882.26 and its two-hundred day moving average is $746.60. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.

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

Insider Activity

In other news, Director Lauri M. Shanahan sold 3,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $832.22, for a total transaction of $3,055,911.84. Following the sale, the director now owns 4,515 shares of the company’s stock, valued at approximately $3,757,473.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lauri M. Shanahan sold 3,672 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $832.22, for a total value of $3,055,911.84. Following the completion of the transaction, the director now owns 4,515 shares in the company, valued at $3,757,473.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Steven J. Fasching sold 5,000 shares of Deckers Outdoor stock in a transaction on Friday, February 9th. The stock was sold at an average price of $844.40, for a total value of $4,222,000.00. Following the transaction, the chief financial officer now directly owns 29,291 shares of the company’s stock, valued at approximately $24,733,320.40. The disclosure for this sale can be found here. Insiders sold 30,464 shares of company stock worth $26,229,683 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Deckers Outdoor

Institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB raised its position in shares of Deckers Outdoor by 12.4% during the 4th quarter. Handelsbanken Fonder AB now owns 5,444 shares of the textile maker’s stock worth $3,639,000 after purchasing an additional 600 shares during the last quarter. Advisor Resource Council purchased a new position in Deckers Outdoor during the fourth quarter worth $970,000. Advisors Preferred LLC purchased a new position in Deckers Outdoor during the fourth quarter worth $2,271,000. Marks Group Wealth Management Inc acquired a new position in shares of Deckers Outdoor in the fourth quarter worth $6,185,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at $4,813,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Company Profile

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.