Deckers Outdoor Co. (NYSE:DECK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Deckers Outdoor Co. (NYSE:DECK) have earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $134.68.

Several research firms have weighed in on DECK. Telsey Advisory Group lowered Deckers Outdoor from an “outperform” rating to a “market perform” rating in a research report on Friday, May 23rd. Raymond James restated a “strong-buy” rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Wells Fargo & Company cut their target price on shares of Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, May 23rd. KGI Securities upgraded Deckers Outdoor to a “hold” rating in a research note on Monday, May 26th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $110.00 price objective (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd.

Deckers Outdoor Stock Performance

DECK opened at $107.65 on Friday. The firm’s fifty day moving average is $112.43 and its two-hundred day moving average is $151.21. The firm has a market cap of $16.09 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. Deckers Outdoor has a twelve month low of $93.72 and a twelve month high of $223.98.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Angela Ogbechie sold 6,244 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider now owns 19,980 shares of the company’s stock, valued at $2,075,722.20. This trade represents a 23.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the completion of the sale, the director now owns 10,681 shares of the company’s stock, valued at $1,165,083.48. The trade was a 2.73% 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 company insiders.

Institutional Trading of Deckers Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in shares of Deckers Outdoor by 120.4% in the 1st quarter. Inspire Investing LLC now owns 2,792 shares of the textile maker’s stock worth $312,000 after acquiring an additional 1,525 shares during the last quarter. Strs Ohio purchased a new stake in Deckers Outdoor during the 1st quarter worth about $34,661,000. Jacobi Capital Management LLC purchased a new position in Deckers Outdoor during the first quarter valued at approximately $491,000. Acadian Asset Management LLC increased its holdings in shares of Deckers Outdoor by 149.2% in the first quarter. Acadian Asset Management LLC now owns 23,773 shares of the textile maker’s stock worth $2,656,000 after purchasing an additional 14,234 shares during the period. Finally, IFM Investors Pty Ltd raised its position in shares of Deckers Outdoor by 3.5% in the first quarter. IFM Investors Pty Ltd now owns 31,723 shares of the textile maker’s stock worth $3,547,000 after buying an additional 1,060 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

About Deckers Outdoor

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.