Deckers Outdoor (NYSE:DECK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Deckers Outdoor (NYSE:DECK) had its price objective hoisted by stock analysts at Robert W. Baird from $140.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. Robert W. Baird’s price objective points to a potential upside of 28.62% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus lowered their price target on Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Citigroup lowered their price target on Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 28th. UBS Group decreased their target price on Deckers Outdoor from $169.00 to $144.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Piper Sandler decreased their target price on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Deckers Outdoor has an average rating of “Hold” and a consensus target price of $137.50.

Deckers Outdoor Stock Performance

Shares of NYSE DECK opened at $116.63 on Friday. The company has a market cap of $17.43 billion, a PE ratio of 17.89, a P/E/G ratio of 7.67 and a beta of 0.99. The business has a 50-day simple moving average of $106.21 and a two-hundred day simple moving average of $129.20. Deckers Outdoor has a fifty-two week low of $93.72 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.25. The business had revenue of $964.54 million during the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a return on equity of 40.54% and a net margin of 19.42%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company earned $4.52 earnings per share. On average, sell-side analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has initiated a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the business’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 value of $648,689.16. Following the completion of the sale, the insider owned 19,980 shares of the company’s stock, valued at $2,075,722.20. This trade represents a 23.81% 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 Trading of Deckers Outdoor

Institutional investors and hedge funds have recently made changes to their positions in the business. Mpwm Advisory Solutions LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth approximately $29,000. Vega Investment Solutions purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth approximately $29,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Deckers Outdoor during the first quarter worth approximately $34,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth approximately $41,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.