Canaccord Genuity Lowers Deckers Outdoor Corp Price Target to $103.00 (DECK)
Stock analysts at Canaccord Genuity cut their target price on shares of Deckers Outdoor Corp (NASDAQ:DECK) from $111.00 to $103.00 in a report issued on Thursday, American Banking News.com reports. Canaccord Genuity’s price objective indicates a potential upside of 21.65% from the stock’s previous close.
A number of other firms have also recently commented on DECK. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Deckers Outdoor Corp in a research note on Tuesday. Separately, analysts at Ned Davis Research upgraded shares of Deckers Outdoor Corp from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, analysts at Nomura initiated coverage on shares of Deckers Outdoor Corp in a research note on Wednesday, February 12th. They set a “neutral” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Deckers Outdoor Corp currently has an average rating of “Buy” and an average target price of $76.64.
Deckers Outdoor Corp (NASDAQ:DECK) traded up 2.83% during mid-day trading on Thursday, hitting $84.67. 2,429,564 shares of the company’s stock traded hands. Deckers Outdoor Corp has a 1-year low of $43.63 and a 1-year high of $90.09. The stock’s 50-day moving average is $80.56 and its 200-day moving average is $72.49. The company has a market cap of $2.924 billion and a price-to-earnings ratio of 27.95. Deckers Outdoor Corp also saw some unusual options trading on Thursday. Traders acquired 13,273 put options on the company. This represents an increase of 590% compared to the typical daily volume of 1,923 put options.
Deckers Outdoor Corp (NASDAQ:DECK) last released its earnings data on Thursday, February 27th. The company reported $4.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.77 by $0.27. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $709.65 million. During the same quarter in the prior year, the company posted $2.77 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Analysts expect that Deckers Outdoor Corp will post $3.94 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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