Deckers Outdoor (NYSE:DECK) Price Target Raised to $246.00

Deckers Outdoor (NYSE:DECK) had its target price upped by Needham & Company LLC from $226.00 to $246.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

Several other research analysts have also recently commented on the stock. StockNews.com cut shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. Guggenheim initiated coverage on Deckers Outdoor in a report on Wednesday, October 9th. They issued a “neutral” rating on the stock. Piper Sandler set a $166.00 price target on Deckers Outdoor in a report on Thursday, October 17th. Seaport Res Ptn downgraded Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 7th. Finally, Evercore ISI boosted their target price on Deckers Outdoor from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Deckers Outdoor presently has an average rating of “Moderate Buy” and an average target price of $159.76.

Deckers Outdoor Stock Up 1.3 %

Shares of DECK stock opened at $207.84 on Monday. The stock has a market capitalization of $31.58 billion, a PE ratio of 36.55, a P/E/G ratio of 2.87 and a beta of 1.08. The firm has a 50 day moving average of $192.60 and a two-hundred day moving average of $114.36. Deckers Outdoor has a 52 week low of $114.11 and a 52 week high of $214.70.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company earned $1.14 EPS. Deckers Outdoor’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts expect that Deckers Outdoor will post 5.49 EPS for the current fiscal year.

Insider Activity

In other news, CEO Caroti Stefano sold 14,274 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the transaction, the chief executive officer now owns 259,266 shares of the company’s stock, valued at approximately $54,015,478.44. The trade was a 5.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela Ogbechie sold 1,278 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $163.24, for a total value of $208,620.72. Following the sale, the insider now owns 29,628 shares of the company’s stock, valued at $4,836,474.72. This trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,036 shares of company stock valued at $13,715,482. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Several institutional investors have recently bought and sold shares of DECK. First Hawaiian Bank boosted its holdings in shares of Deckers Outdoor by 4.2% in the fourth quarter. First Hawaiian Bank now owns 24,556 shares of the textile maker’s stock valued at $4,987,000 after acquiring an additional 1,000 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Deckers Outdoor by 1.6% in the 4th quarter. Fulton Bank N.A. now owns 10,139 shares of the textile maker’s stock valued at $2,059,000 after purchasing an additional 161 shares in the last quarter. Range Financial Group LLC acquired a new position in Deckers Outdoor during the 4th quarter worth approximately $267,000. Nordea Investment Management AB raised its stake in shares of Deckers Outdoor by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 12,362 shares of the textile maker’s stock worth $2,548,000 after buying an additional 596 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at approximately $676,000. 97.79% of the stock is owned by institutional investors and hedge funds.

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.