Deckers Outdoor Corp.’s “Underperform” Rating Reaffirmed at Credit Suisse (DECK)
Deckers Outdoor Corp. (NASDAQ:DECK)‘s stock had its “underperform” rating reiterated by analysts at Credit Suisse in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork reports.
The analysts wrote, “We remain concerned about Deckers’ return on recent retail investments and reiterate our view that 2H earnings could fall short of expectations. While 3Q remains a sell-in quarter, and risk is moderate heading into the 3Q report, recent retailer commentary and macroeconomic factors suggest the company is not well positioned for guided-to reacceleration of revenue growth and earnings power in 4Q. Guidance is for 4Q revenue growth of 14.5%, and EPS growth of 38% versus 2.5% revenue growth and earnings declines of 41% Y/Y in 3Q.”
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott raised their price target on shares of Deckers Outdoor Corp. from $66.00 to $75.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Deckers Outdoor Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 3rd. They now have a $74.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Deckers Outdoor Corp. in a research note to investors on Thursday, October 3rd. They now have a $100.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $62.57.
In other Deckers Outdoor Corp. news, Insider Peter Worley sold 1,270 shares of Deckers Outdoor Corp. stock on the open market in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.58, for a total transaction of $78,206.60. Following the transaction, the insider now directly owns 87,090 shares of the company’s stock, valued at approximately $5,363,002. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Deckers Outdoor Corp. (NASDAQ:DECK) traded down 1.13% on Thursday, hitting $61.45. The stock had a trading volume of 1,184,465 shares. Deckers Outdoor Corp. has a one year low of $28.53 and a one year high of $68.84. The stock has a 50-day moving average of $61.62 and a 200-day moving average of $56.64. The company has a market cap of $2.120 billion and a price-to-earnings ratio of 19.52.
Deckers Outdoor Corp. (NASDAQ:DECK) last released its earnings data on Thursday, July 25th. The company reported ($0.85) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.53) earnings per share. Deckers Outdoor Corp.’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Deckers Outdoor Corp. will post $3.77 EPS for the current fiscal year.
Deckers Outdoor Corporation designs footwear developed for both high performance outdoor activities and everyday casual lifestyle use.
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