Deckers Outdoor Corp. Rating Increased to Buy at Canaccord Genuity (DECK)
Deckers Outdoor Corp. (NASDAQ:DECK) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $80.00 target price on the stock, up from their previous target price of $55.00. Canaccord Genuity’s price target suggests a potential upside of 21.36% from the stock’s previous close.
The analysts wrote, “I Heart UGG”
Deckers Outdoor Corp. (NASDAQ:DECK) traded up 1.24% on Tuesday, hitting $66.735. The stock had a trading volume of 1,237,158 shares. Deckers Outdoor Corp. has a 52 week low of $28.53 and a 52 week high of $66.85. The stock has a 50-day moving average of $60.17 and a 200-day moving average of $55.91. The company has a market cap of $2.302 billion and a P/E ratio of 20.70.
Deckers Outdoor Corp. (NASDAQ:DECK) last posted its quarterly earnings results on Thursday, July 25th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.19. The company had revenue of $170.10 million for the quarter, compared to the consensus estimate of $179.40 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Deckers Outdoor Corp. will post $3.75 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research upgraded shares of Deckers Outdoor Corp. (NASDAQ:DECK) from a “neutral” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at Wedbush upgraded shares of Deckers Outdoor Corp. (NASDAQ:DECK) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, September 26th. They now have a $74.00 price target on the stock, up previously from $54.00. Finally, analysts at Thomson Reuters/Verus upgraded shares of Deckers Outdoor Corp. (NASDAQ:DECK) from a “hold” rating to a “buy” rating in a research note to investors on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Deckers Outdoor Corp. currently has an average rating of “Hold” and a consensus target price of $60.64.
Deckers Outdoor Corporation designs footwear developed for both high performance outdoor activities and everyday casual lifestyle use.
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