Deckers Outdoor (NYSE:DECK) Sets New 52-Week Low on Analyst Downgrade

Deckers Outdoor Co. (NYSE:DECK) hit a new 52-week low during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $210.00 to $115.00. Wells Fargo & Company currently has an equal weight rating on the stock. Deckers Outdoor traded as low as $108.04 and last traded at $110.85, with a volume of 2681906 shares. The stock had previously closed at $111.69.

A number of other equities research analysts also recently commented on DECK. Needham & Company LLC reiterated a “buy” rating and set a $246.00 price objective on shares of Deckers Outdoor in a research report on Friday, January 31st. Bank of America upped their target price on Deckers Outdoor from $182.00 to $217.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Piper Sandler dropped their price target on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group restated an “outperform” rating and set a $240.00 price target on shares of Deckers Outdoor in a report on Friday, January 31st. Finally, Evercore ISI boosted their target price on shares of Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Deckers Outdoor has an average rating of “Moderate Buy” and an average target price of $174.55.

Insider Transactions at Deckers Outdoor

In other news, Director David Powers sold 25,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $138.84, for a total value of $3,471,000.00. Following the completion of the sale, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the transaction, the director now owns 10,388 shares in the company, valued at $1,396,978.24. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in Deckers Outdoor during the 4th quarter valued at approximately $392,583,000. JPMorgan Chase & Co. boosted its position in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after acquiring an additional 1,170,855 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Deckers Outdoor in the fourth quarter worth $185,451,000. Jacobs Levy Equity Management Inc. increased its position in Deckers Outdoor by 204.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker’s stock worth $180,674,000 after acquiring an additional 597,743 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Deckers Outdoor by 101.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker’s stock valued at $203,850,000 after purchasing an additional 505,139 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Trading Up 0.3 %

The stock has a market capitalization of $16.87 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.68 and a beta of 1.07. The business’s fifty day simple moving average is $116.51 and its two-hundred day simple moving average is $162.37.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. On average, equities research analysts anticipate that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.